DMO announces FGN savings bonds, invites investors
The Debt Management Office (DMO) has announced the availability of two tenors of FGN savings bonds for the month of March 2023, and is inviting retail investors to subscribe.
The first tenor is a 2-year FGN savings bond due March 15, 2025, with a coupon rate of 9.465% per annum.
The second tenor is a 3-year FGN savings bond due March 15, 2026, with a coupon rate of 10.465% per annum.
The minimum subscription amount for these tax-free papers is N5,000, while the maximum is N50 million.
Subscriptions opened on March 6 and will close on March 10.
READ ALSO:DMO offers two FG savings bonds at N1,000 per unit
The settlement date is set for March 15, 2023, with coupon payment dates scheduled for June 15, September 15, December 15, and March 15.
DMO said interested investors can purchase these bonds through any licensed brokerage firm in the country.
The FGN savings bond is a secure debt instrument backed by the full faith and credit of the Nigerian government and can be used as a liquid asset for liquidity ratio calculation for banks.
It is also a qualified security under the Trustee Investment Act, making it an attractive option for trustees.
“This offering presents an opportunity for retail investors to invest in a low-risk, high-yield asset with a low entry barrier, which could potentially enhance their investment portfolio,” DMO said.
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