Debt Management Office (DMO) has listed two Federal Government of Nigeria (FGN) Savings Bonds for subscription for July, at N1,000 per unit.
According to a statement by the DMO on Monday, the first offer is a two-year FGN Savings Bond which will be due on July 12, 2025, offered at interest rate of 9.07 per cent per annum.
The second offer is a three-year FGN Savings Bond due on July 12, 2026, offered at 10.070 interest rate per annum.
The opening date for both offers is July 3, while closing date is July 7 and settlement date, July 13.
Also, coupon payment dates are Oct. 12, Jan. 12, April 12 and July 12 respectively.
“They are subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.
“Interest payment is made quarterly, while bullet payment (principal sum) is on maturity date,” the DMO said.
It said that they are backed by full faith and credit of the Federal Government of Nigeria and are charged against the general assets of Nigeria.
“FGN Bonds qualify as securities in which trustees can invest under the Trustee Investment Act.
“They qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds amongst other investors.
“They are listed on the Nigerian Exchange Limited, and qualify as liquid asset for liquidity ratio calculation for banks,” it said.