The Federal Government of Nigeria is currently offering to the investing public two savings bonds due for maturity in 2025 and 2026 respectively. The bond offer comprises a 2-year FGN Savings Bond due April 12, 2025. This offer has an interest rate of 10.032 percent per annum.
The second offer is a 3-year FGN Savings Bond due April 12, 2026, with an interest rate of 11.032 percent per annum. The offer, which opened on April 3, will close on April 7, 2023. Settlement date is April 12, 2023.
According to the offer document, the units of sale are from “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.”
Coupon payment dates are July 12, October 12, January 12 and April 12, according to the Debt Management Office (DMO).
“Applications must be made in accordance with the instructions set out on the back of this application form. Care must be taken to follow these instructions as applications that do not comply with the instructions may be rejected. If you are in any doubt, please consult your stockbroker, banker, solicitor, or any professional adviser for guidance,” according to the offer form circulated by ARM Securities.
The fixed income instrument is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.
