The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), has introduced a retail savings product that will be accessible to all income groups – the FGN Savings Bonds.
Kindly note that the FGN Savings Bonds for September opened on Monday, 7th September 2019.
Details are as highlighted below for the FGN Savings Bonds:
- 2-Year FGN Savings Bond due January 13, 2023: 2.197% per annum
- 3-Year FGN Savings Bond due January 13, 2024: 3.197% per annum
- Opening Date: February 1, 2021
- Closing Date: February 5, 2021
- Settlement Date: February 10, 2021
- Coupon Payment Dates: May 10, August 10, November 10, February 10
Summary of the Offer
Units of Sale
- Qualifies as securities in which trustees can invest under the Trustee Investment Act.
- Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
- Listed on The Nigerian Stock Exchange.
- Qualifies as a liquid asset for liquidity ratio calculation for banks.
Interested investors should contact the stockbroking firms appointed as distribution agents by the debt management office.