Nigeria’s Debt Management Office (DMO), has, on behalf of the Federal Government, announced offer for subscription, the June 2022 FGN ederal Savings Bond to investors.
This disclosure is contained in a circular posted on the DMO website.
According to the circular, there are 2-year and 3-year savings bonds.
A breakdown of the bonds show that the 2-year FGN savings bond will be due on June 15, 2024, at 8.205% per annum and the 3-year FGN Savings Bond which will be due on June 15, 2025, at 9.205% per annum.
Highlights
Opening Date – June 6, 2021
Closing Date – June 10, 2021
Settlement Date – June 15, 2021
Coupon Payment Dates –September 15, December 15, March 15, June 15
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 N50,000,000.
The Bond Qualifies as securities in which trustees can invest under the Trustee Investment Act.
It also qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors
