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The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria has announced the March edition of the FGN Savings Bond (FGNSB).

 

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Two additional Federal Government of Nigeria bonds for subscription for the month of March is announced.

 

According to DMO, the first offer is a two-year Savings Bond which will be due on Mar 16, 2024, at an interest rate of 9.470 percent per annum.

 

The second offer, according to the DMO, is a three-year Savings Bond to be due by Mar 16, 2025, at an interest rate of 10.47 percent per annum.

 

“It goes for N1,000 per unit, subject to a minimum subscription of N5,000 and  a maximum subscription of N50 million.  Bullet payment is on maturity date,’’ it said.

 

It said that the bonds were qualified as securities that trustees could invest in under the Trustee Investment Act.

 

“The bonds also qualify as government securities within the meaning of Company Income Tax Act. (CITA) and Personal Income Tax Act (PITA) for Tax Exemption for Pension Funds, among other investors.

 

“They are listed on The Nigerian Stock Exchange and qualify as a liquid asset for liquidity ratio calculation for banks,” the DMO said.

 

According to DMO, the bonds are backed by the full faith and credit of the federal government and charged upon the general assets of the country.

 

The March 2022 offer to subscribe opened on Monday, March 7th, 2022 and closes on Friday, March 11th, 2022.

 

Chapel Hill Denham Securities Limited is an accredited Distribution Agent designated to offer the FGNSB to investors.

 

SUMMARY OF THE OFFER
ISSUER

Federal Government of Nigeria

 

THE OFFER

Offer For Subscription of FGN Savings Bond due March 16, 2024 & March 16, 2025

 

TENOR

2 Years & 3 Years

 

INTEREST RATE

9.47% & 10.47%

 

INTEREST PAYMENT

Payable Quarterly

 

REDEMPTION

Bullet repayment at maturity date

 

UNIT OF SALE

₦1,000 per Unit

 

MINIMUM SUBSCRIPTION

₦5,000 in Multiples of ₦1,000

 

MAXIMUM SUBSCRIPTION

₦50,000,000

 

OPENING DATE

March 7th, 2022

 

CLOSING DATE

March 11th, 2022

 

SETTLEMENT DATE

March 16th, 2022

 

COUPON PAYMENT DATE:

June 16, September 16, December 16, March 16

 

SECURITY

The Bond is backed by the full faith and credit of the Federal Government of Nigeria

 

LISTING
Nigerian Stock Exchange (NSE)

 

SUBSCRIPTION AGENT

Chapel Hill Denham Securities Limited

 

How To Invest In FGN Bonds

Interest will be paid on quarterly basis. To subscribe, contact your bank or stockbroker

 

For More Information Visit https://www.dmo.gov.ng/ for designated distribution agent

 

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