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This is what you get if you buy FGN Savings Bonds selling this week

Fikayo Owoeye by Fikayo Owoeye
May 9, 2018
in Markets, Securities, Spotlight
Naira will "suffer further devaluation" - MTEF
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The Eleventh tranche of the FGN Savings Bond has begun. Kindly find the Summary of May 2018 Offer below:

  • 2-Year FGN Savings Bond due May 16, 2020: 9.48% per annum
  • 3-Year FGN Savings Bond due May 16, 2021: 10.48% per annum
  • Subscription for the bond opens on May 7, 2018, and closes on May 11, 2018. The settlement date for  the bond is on May 16, 2018
  • 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.
  • Coupon Payment Date: August 16, November 16, February 16, May 16.

REDEMPTION (Payment of Principal)

  • Bullet repayment on the maturity date

What you get when you invest?

Invest N100k

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What you get – N9.48k per annum for 2 years, N10.48k per annum for 3 years

Invest N500k

What you get – N47,400 every year for 2 years, N52,400 every year for 3 years

Invest N1 million 

What you get – N94,800 for 2 years, N104,800 per annum for 3 years

Remember interest is paid quarterly. To get how much you earn quarterly divide what you get above by 4.

Here is a copy of the notice.


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Tags: Debt Management Office (DMO)FGN Savings BondFixed Income
Fikayo Owoeye

Fikayo Owoeye

Fikayo has a degree in computer science with economics from Obafemi Awolowo University. ITIL v3 in IT service management. An alumnus of Daystar Leadership Academy. Prior to joining Nairametrics had stinct in Project management, Telecommunications among others. Also training in Consulting and Investment banking from Edubridge Academy. He has very keen interest in Politics, Agri-business, private equity and global economics. He loves travelling and watching football. You can contact him via fikayo.owoeye@nairametrics.com

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Comments 4

  1. ogedanny says:
    May 9, 2018 at 8:13 am

    While FGN savings bond isn’t a bad idea, I feel there are better fixed income opportunities that offers positive return – Please permit me to share a link on my blog where I discussed two low-risk, high-return fixed income opportunities for people with idle cash (>200K).

    read here – https://nigerianstockstobuy.com/best-investment-opportunities-nigeria-longterm/

    Reply
  2. Wande says:
    May 9, 2018 at 4:00 pm

    Very illiquid. Once you buy you can hardly sell.

    Reply
  3. Yemi Akindele says:
    May 13, 2018 at 8:57 am

    Fgn savings

    Reply
  4. Yemi Akindele says:
    May 13, 2018 at 9:01 am

    It’s better than normal savings account with the commercial banks in Nigeria. Because the yield on the investment is okay compared to savings account interest rates offers by banks in Nigeria

    Reply

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