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DMO Offers For Subscription Federal Government Savings Bonds To Nigerians - Politics - Nairaland

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DMO Offers For Subscription Federal Government Savings Bonds To Nigerians by annamomodu: 10:10am On Jul 06
On behalf of the Federal Government of Nigeria, the DMO is offering for subscription, 2-years and 3-years FGN Savings Bonds at the following rates:

2-Year FGN Savings Bond due July 14, 2023: 8.35% per annum
3-Year FGN Savings Bond due July 14, 2024: 9.35% per annum

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.


Re: DMO Offers For Subscription Federal Government Savings Bonds To Nigerians by psucc(m): 10:41am On Jul 06
I wonder if the bond is worth investing in with interest rate peaked at 9.35% while inflation stands at over 18% And the exchange rate is not predictable.

Whatever gain may have been generated is already wiped off.

Sha! It is a clarion call to people with excess cash to help our government.

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