The Federal Government of Nigeria has announced details of the new issue of its FGN Savings Bond Offer.
The Debt Management Officer, which issued the bonds on behalf of the FG reveals subscription for the savings bond re-opened, Monday the 9th of April 2018.
The offer, will be open for the next four days and close Friday, the 13th of April 2018, and will sell at the following coupon rates:
- 2-Year FGN Savings Bond due April 18, 2020: 10.75%
- 3-Year FGN Savings Bond due April 18, 2021: 11.75%
DETAILS OF THE FGN SAVINGS BOND
| FEATURES | |
| Tenor | 2 and 3 years |
| Coupon | 10.75% for 2 years, 11.75% for 3 Years |
| Coupon Payments | Quarterly (4 times a year) |
| Subscription Amount | Minimum – N5,000 |
| Maximum – N50,000,000 | |
| Additional Subscription | In multiples of N1,000 |
| Secondary Market | Listed on the Nigerian Stock Exchange (NSE) |
| Redemption | Principal repayment on the maturity date |
| Subsequent Offers | First week of every month |
| Tax on Interest | Interests are tax-free |
| Capital Repayment | Guaranteed |
| Settlement Date | April 18th, 2018 |
| Coupon Payment Rate | July 18, October 18, January 18, April 18. |
To buy, you will have to contact your Stockbroker. Stockbrokers advise that all forms are submitted on or before 12noon on Friday to enable timely submission to the DMO.
Recommended Stockbrokers
- Meristem
- Stanbic IBTC Stockbrokers
- Futureview
- CSL Stockbrokers
- Lead Trader
- Afriinvest
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