Introducing FGN Savings Bond Offer for May 2017 – offered at higher interest

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The FGN Savings Bond for May 2017 has commenced. The details are as follows;

 ISSUANCE
       MATURITY
2 Year FGN Savings Bond
May 17, 2019 : Coupon  13.189%
3 Year FGN Savings Bond
May 17, 2020:  Coupon  14.189%
Opening Date
Monday, May 8, 2017
Closing Date
Friday, May 12, 2017
Settlement Date
Wednesday, May 17, 2017 (this is the date the bonds will be credited into your CSCS Account domiciled with your broker)
Units of Sale
N1,000 per unit subject to a minimum subscription of N5,000  and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.
Interest Payment
Quarterly
Redemption
Bullet payment on the maturity date

Purpose

  • To deepen the national savings culture.
  • To provide opportunity to all citizens irrespective of income level to contribute to National Development.
  • To enable all citizens participate in and benefit from the favorable returns available in the capital market.
  • To diversify funding sources for the Government.
 Benefits
  • Interest income is paid quarterly directly into bond holder’s account.
  • The Bond is acceptable as collateral for loans by banks and can be sold for cash in the secondary market before maturity.
  • Good for savings towards retirement, marriage, school fees, house projects, etc.
  • Safety: backed by the full faith and credit of the Federal Government of Nigeria

Liquidity

The Bond will be listed on the Nigeria Stock Exchange for trading and provides liquidity for investors who want to exit before maturity


Subscription Mode


Investors are to subscribe through stockbroking firms trading on the floor of The Nigerian Stock Exchange (NSE) and accredited by the DMO to act as Distribution Agents. (Please visit www.dmo.gov.ng for the list of accredited Stockbroking Firms).

Click here to download the subscription file…

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