The Debt Administration Workplace has supplied two Federal Authorities of Nigeria financial savings bonds for subscription at N1,000 per unit.
DMO in a press release posted on its web site on Monday stated the primary provide is a two-year FGN financial savings bond due on August 21, 2026, at an rate of interest of 17.373 per cent every year.
The second provide is a three-year FGN financial savings bond due on August 21, 2027, at an rate of interest of 18.373 per cent every year.
The opening date for the provide is August 12, the time limit is August 16, and the settlement date is August 21, whereas coupon settlement dates are November 21, February 21, Could 21, and August 21.
“They’re supplied at N1,000 per unit topic to a minimal subscription of N5,000 and in multiples of N1,000 after that, topic to a most subscription of N50m.
“Curiosity is payable quarterly whereas bullet reimbursement (principal sum) is on the maturity date,” DMO stated.
“They’re supplied at N1,000 per unit topic to a minimal subscription of N5,000 and in multiples of N1,000 after that, topic to a most subscription of N50m.
“Curiosity is payable quarterly whereas bullet reimbursement (principal sum) is on the maturity date,” the DMO stated.
It assured that FGN financial savings bonds are backed by the total religion and credit score of the FGN, and charged upon the final belongings of Nigeria.
“They qualify as securities the place trustees can make investments underneath the Trustee Funding Act.
“They qualify as authorities securities inside the which means of the Firm Revenue Tax Act and Private Revenue Tax Act for tax exemption for pension funds amongst different buyers.
“They’re listed on the Nigerian Trade Restricted and qualify as liquid belongings for liquidity ratio calculation for banks.
In accordance with the Debt Administration Workplace, the minimal quantity that may be invested within the Financial savings Bond is N5,000 whereas a most of N50m will be invested.
The Debt Administration Workplace additionally famous that buyers ought to contact appointed stockbroking companies supplied by the DMO.
