The Debt Management Office (DMO), will start the auction of the new Federal Government Bond re-offer for July on Wednesday 25th and it will close by Friday 27th.
Here are details of the offer:
How much can I buy?
N1,000 per unit, subject to a minimum subscription of N50,000,000 and in multiples of N1,000 thereafter.
What is the minimum amount I can buy?
Based on the above, the minimum amount you can buy is N50,000,000.
N25,000,000,000 at 12.75% interest rate maturing on APR 2023 (5-Yr Re-opening)
N25,000,000,000 at 13.53% interest rate maturing on MAR 2025 (7-Yr Re-opening)
N40,000,000,000 at 13.98% interest rate maturing on FEB 2028 (10-Yr Re-opening)
Interest is paid semiannually- twice in a year.
When are coupon payment dates?
October April 2023, March 2025, and February 2028.
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 bank if you want to buy it. And remember that the re-offer opens on the 25th of July and closes on the 27th of July.