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Tuesday, 10 April 2018

MAKE MONEY: HOW TO BUY THE NEXT FGN SAVINGS BONDS



The Federal Government of Nigeria has announced details of the new issue of its FGN Savings Bond Offer.
The Debt Management Officer, which issued the bonds on behalf of the FG reveals subscription for the savings bond re-opened, Monday the 9th of April 2018.
The offer, will be open for the next four days and close Friday, the 13th of April 2018, and will sell at the following coupon rates:
  • 2-Year FGN Savings Bond due April 18, 2020: 10.75%
  • 3-Year FGN Savings Bond due April 18, 2021: 11.75%
DETAILS OF THE FGN SAVINGS BOND
FEATURES
Tenor2 and 3 years
Coupon10.75% for 2 years, 11.75% for 3 Years
Coupon PaymentsQuarterly (4 times a year)
Subscription AmountMinimum – N5,000
Maximum – N50,000,000
Additional SubscriptionIn multiples of N1,000
Secondary MarketListed on the Nigerian Stock Exchange (NSE)
RedemptionPrincipal repayment on the maturity date
Subsequent OffersFirst week of every month
Tax on InterestInterests are tax-free
Capital RepaymentGuaranteed
Settlement DateApril 18th, 2018
Coupon Payment RateJuly 18October 18January 18April 18
To buy, you will have to contact your Stockbroker. Stockbrokers advise that all forms are submitted on or before 12noon on Friday to enable timely submission to the DMO.

Recommended Stockbrokers

  • Meristem
  • Stanbic IBTC Stockbrokers
  • Futureview
  • CSL Stockbrokers
  • Lead Trader
NAIRAMETRICS

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