Nairametrics| The Debt Management Office has announced a new round of FGN Savings Bond set for May 8 2017 and will close May 12 2017. The 2 year bond will be offered at an interest of 13.189% and 14.189% for a 3 year bond compared to 12.794% and 13.794% offered respectively in the last auction.

The FGN Savings bond still offers a lower yield when compared to Treasury Bills. One year treasury bills sold at 18.8% last week.

See offer details below;

Summary of May 2017 Offer

2-Year FGN Savings Bond due May 17, 2019: 13.189%

3-Year FGN Savings Bond due May 17, 2020: 14.189%

Business day

Opening Date: May 8, 2017

Closing Date: May 12, 2017

Settlement Date: May 17, 2017

Deal book 300 x 250

ISSUER: Federal Government of Nigeria (“FGN”)

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: Payable Quarterly

REDEMPTION: Bullet repayment on the maturity date

Official FGN Bond Document

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.