The Debt Management Office (DMO), has released details of the July 2018 FGN Savings Bond.
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.
What is the minimum amount I can buy?
Based on the above, the minimum amount you can buy is N5,000.
Interest rates
A 2-year FGN Savings Bond due March 14, 2020, is 10.483% per annum.
A 3-year FGN Savings Bond due March 14, 2021, is 11.483% per annum.
When are coupon payment dates?
October 11, January 11, April 11 and July 11.
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 that the offer closes by Friday.
What do you get when you invest?
Invest N100,000 – N10,483 per annum for 2 years, and N11,483 per annum for 3 years.
Invest N500,000 – N52,415 per annum for 2 years, and N57,415 per annum for 3 years.
Invest N1 Million – N104,83O per annum for 2 years, and N114,830 per annum for 3 years.
Remember that interest is paid quarterly. To get how much you will earn quarterly, divide what you get above by 4.
