The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria, recently offered for Subscription the February 2021 Federal Government of Nigeria Savings Bond.
This is according to a notification released on the website of the Debt Management Office on Monday.
The latest savings bond offer comes in two tranches:
- 2-year FGN Savings Bond due February 10, 2021: 4.214% per annum
- 3-year FGN Savings Bond due February 10, 2024: 5.214% per annum
- Opening date – February 1, 2021
- Closing date – February 5, 2021
- Settlement date – February 10th, 2021
- Coupon payment dates – May 10th, August 10th, November 10th, and February 10th
- 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 million.
According to the circular, the offer is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.
What you should know
- Recall that Nairametrics reported that DMO received a total bid of N134.056 billion in December 2020, indicating an oversubscription of N74.056 billion.
- The FGN Savings Bond is an investment product issued through the Debt Management Office (DMO) on behalf of the Federal Government.
- Interested investors were however advised to visit their website in order to get the list of stockbroking firms appointed as distribution agents.