The Debt Management Office (DMO), on Monday, released details of the May 2018 FGN Savings Bond offer.
Here are details of the offer:
How much can I buy?
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.
Minimum amount I can buy?
Based on the above, the minimum you can buy is N5,000.
2-Year FGN Savings Bond due March 14, 2020 is 10.746% per annum.
3-Year FGN Savings Bond due March 14, 2021 is 11.746% per annum.
When will the interest be paid?
Interest payment dates are March 14, 2018, June 14, 2018, September 14, 2018, December 14, 2018, and March 14, 2019.
Interest is tax-free.
When will the principal be paid?
Bullet repayment on the maturity date.
What about security for my money?
The loan is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.
Where can I buy it from?
Contact your stockbroker if you want to buy it. And remember offer closes by Friday.
What you get – N10.746k per annum for 2 years, N11.746k per annum for 3 years
What you get – N53,730 every year for 2 years, N58,730 every year for 3 years
Invest N1 million
What you get – N100,746 for 2 years, N111,746 per annum for 3 years
Remember interest is paid quarterly. To get how much you earn quarterly divide what you get above by 4.