₦airaland Forum

The Debt Management Office (DMO) listed two savings bonds of the Federal Government of Nigeria (FGN) in July with an offer price of N1,000 per unit.

The first offering will be a two-year FGN savings bond, due July 12, 2025, with an interest rate of 9.07% per annum, according to a statement from the DMO on Monday.

The second issuance is this 3-year FGN Savings Bond, due July 12, 2026, at an interest rate of 10.070 per annum. Both offers have a start date of July 3, a close date of July 7, and a settlement date of July 13.

Coupon payment date is October. January 12th, January 12th, April 12th, July 12th. The minimum subscription is 5,000 Naira, then in multiples of 1,000 Naira, with a maximum subscription of 5,000 Naira.

Interest payments will be made quarterly and lump sum payments (principal) will be made on the due date,” the DMO said. It states that they are backed by the full trust and credit of the Nigerian federal government and bear the general wealth of Nigeria. FGN Bonds are considered securities that can be invested by a trustee under the Trustee Investment Act. They qualify as government securities under corporate income tax laws and income tax laws for tax exemptions for pension funds and other investors.

“They are listed on the Nigerian Exchange Limited and are considered liquid assets in the bank’s liquidity ratio calculations,” it said.

Monzze:
Be like say you no understand the write-up.
if not, you for don write epistle of how Tinubu government will/has failed.

slawomir:
Damnnn niggar
Isoright