Wednesday, April 3, 2019

Apply For FG Saving Bond For The Month Of April 2019

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Offer for Subscription DEBT MANAGEMENT OFFICE NIGERIA

Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004

DEBT MANAGEMENT OFFICE on behalf of the FEDERAL GOVERNMENT OF NIGERIA Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates:

2-Year FGN Savings Bond due April 10, 2021: 11.276% per annum

3-Year FGN Savings Bond due April 10, 2022: 12. 276% per annum

Opening Date: April l, 2019

Closing Date:  April 5, 2019

Settlement Date: April 10, 2019

Coupon Payment Dates:
July 10, October 10, January 10, April 10

SUMMARY OF THE OFFER STATUS:

ISSUER: Federal Government of Nigeria (“FGN”) UNITS OF SALE:

N1‚000 per unit subject to a minimum Subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.

INTEREST PAYMENT: Payable Quarterly

REDEMPTION:
Bullet repayment on the maturity date

1. Qualifies as securities in which trustees can invest under the Trustee Investment Act.

2. Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.

3. Listed on The Nigerian Stock Exchange.

4. Qualifies as a liquid asset for liquidity ratio calculation for banks.

SECURITY:
Backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.

INTERESTED INVESTORS SHOULD CONTACT THE STOCKBROKING FIRMS APPOINTED AS DISTRIBUTION AGENTS BY THE DEBT MANAGEMENT OFFICE. PLEASE VISIT www.dmo.gov.ng FOR THE LIST OF DISTRIBUTION AGENTS.

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