The Debt Management Office (DMO) has listed two Federal Government of Nigeria (FGN) savings bonds.
The two bonds are listed for subscription at ₦1,000 per unit.
The first bond is a two-year FGN savings bond due in July 10, 2026 at interest rate of 16.668 per cent per annum.
The second bond is a three-year FGN savings bond due in July 10, 2027, at 17.668 per cent interest rate per annum.
The opening date for the offer is July 1, closing date is July 5, and settlement date is July 10, while coupon payment dates are Oct. 10, Jan 10, April 10 and July 10.
DMO stated that the FGN savings bonds are backed by full faith and credit of the Federal Government of Nigeria, and charged upon the general assets of Nigeria. They qualify as securities in which trustees can invest under the Trustees Investment Act.
“The offer is at ₦1,000 per unit subject to a minimum subscription of 5,000 and in multiples of ₦1,000 thereafter, subject to a maximum subscription of ₦50m thereafter. Interest is payable quarterly while bullet repayment (principal sum) is on maturity date,” the DMO said.
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