The Debt Management Office (DMO) has announced that on Wednesday, February 16, 2022, it will auction N150 billion in federal government bonds to investors.
This was announced in a circular that was recently published on the agency’s website.

A bond is a fixed-income investment instrument that represents a loan made by an investor to a borrower, typically a corporation or the government.

The bond will be issued in two tranches of N75 billion each, according to the circular.

The first tranche is a 10-year, 12.5 percent FGN Jan 2026 re-opening bond, and the second is a 20-year, 13% FGN 2042 re-opening bond.

It stated that the bonds are sold for N1,000 per unit, with a minimum subscription of N50,001,000 and subsequent multiples of N1,000.

The DMO stated that the bond issuance will be settled on February 18, 2022.

The agency specified that successful bidders must pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument, for re-openings of previously issued bonds (where the coupon is already set).

It stated that interest on the bonds would be paid “semi-annually,” with bullet payments made on the maturity date.

According to the DMO, the bonds are securities in which trustees can invest under the Trustee Investment Act.

“Qualifies as Government securities under the Company Income Tax Act (“CITA”) and the Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds and other investors,” according to the circular.

“Listed on the Nigerian Exchange Limited as well as the FMDQ OTC Securities Exchange.” All FGN Bonds are considered liquid assets for the purposes of calculating banks’ liquidity ratios.”

The debt management agency assured investors that all bonds are backed by the federal government of Nigeria’s full faith and credit and are charged against Nigeria’s general assets.

https://brandspurng.com/2022/02/14/debt-management-office-set-to-auction-n150bn-fgb/

The guy above me

Issokay!!!

k

M

The rich keeps getting richer...

Noted

I don't really have faith in the Naira. Long-term outlook on inflation and possible devaluation means you're better off in real estate or somewhere else.

I guess this is for the creme de la creme!

Selling money?! Lol. Democracy n capitalism is bloody!

Sales of bonds is one of the better ways to manage economy and stem tide of rising inflation.

Minimum buy N50, 001, 000?

This one no concern me

chukbonda:
Nigerian bond for only the rich cn buy

I dey tell you

The rich keeps getting richer...

Make your money work for more money...

This is pure discrimination, why raise the limit so high and the interest so juicy, while the savings bond which the masses can aford has very crappy interest rates?

Omashe ooo

lol if I don't know wat to du with money I will rada buy BTC mak e dey crash any how I sha know say one day e go rise...



Or just buy Dollar keep for my Dorm as Naira dey useless at least my dollar go dey meet up....

Miyachi:
I don't really have faith in the Naira. Long-term outlook on inflation and possible devaluation means you're better off in real estate or somewhere else.

You’ve said it all bro.

inoki247:
lol if I don't know wat to du with money I will rada buy BTC mak e dey crash any how I sha know say one day e go rise...



Or just buy Dollar keep for my Dorm as Naira dey useless at least my dollar go dey meet up....

yes bruh BTC i better ooo than useless naira just keep am there come back next two years

Another strategy to loot our money. These government can never repent. When they can't borrow from both local/international again, poor man money is what they want to feed on now.

We need a projected 10 year inflation figure so we can know if it's worth the risk. When coupons are compounded in other investment like MMF.
Anyone?

They will still be the backyard buyers