Friday, September 24, 2021

    August 2021 FGN Savings Bonds Offer for Subscription

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004 Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates:

     2-Year FGN Savings Bond due August 11, 2023: 8.864% per annum

    3-Year FGN Savings Bond due August 11, 2024: 9.864% per annum

     Opening Date:                                  August 2, 2021

     Closing Date:                                    August 6, 2021

     Settlement Date:                              August 11, 2021

     Coupon Payment Dates:                 November 11, February 11, May 11, August 11

    Summary of the Offer
    Federal Government of Nigeria (“FGN”)

    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.


    Interest Payment 

    Payable Quarterly



    Bullet repayment on the maturity date



    Qualifies as securities in which trustees can invest under the Trustee Investment Act.

    1. 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.
    2. Listed on The Nigerian Stock Exchange.
    3. Qualifies as a liquid asset for liquidity ratio calculation for banks.

    Backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.  

    Interested investors should contact the stockbroking firms appointed as distribution agents by the debt management office.

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