The Debt Management Office has updated the contact details of distribution agents for the FGN Savings Bond.

It should be recalled that the FGN Savings Bond is a retail savings product accessible to all income groups. The FGN Savings Bond provides an opportunity to all citizens irrespective of income level to contribute to national development and enables all citizens participate in and benefit from the favourable returns available in the capital market.

Some of the Benefits to Nigerians include:
• Interest income is paid quarterly directly into bond holder’s account.
• The Bond is acceptable as collateral for loans by banks and can be sold for cash in the secondary market before maturity.
• Good for savings towards retirement, marriage, school fees, house projects, etc.

The features of the FGN Savings Bond are:
• The product will be issued monthly in tenors of 2 and 3 years.
• Interest will be paid quarterly to investors.
• The Savings Bond will be offered to investors through Offer for Subscription at an interest rate to be announced by the DMO.
• There will be no fees or charges for subscriptions.
• The Offer for subscription will be open for 5 days from the date of announcement.
• Minimum subscription amount is N5,000.00 with additions in multiples of N1,000.00, subject to a maximum of N50,000,000.00.
• Accounts of investors will be credited and text alerts will be sent to investors on Settlement Day.
• Listed on The Nigerian Stock Exchange.
• The Bond is backed by the full faith and credit of the Federal Government of Nigeria.

Ways to purchase the FGN Savings Bond:
Nigerians can subscribe through stockbroking firms trading at The Nigerian Stock Exchange (NSE) or check and contact the updated list of Distribution Agents to purchase the FGN Savings Bond. For more information, visit www.dmo.gov.ng

What's d intrest rates?