By Dipo Olowookere
The last FGN Savings Bond auction exercise for the year 2017 has commenced today, Monday, December 04, 2017, and will end on Friday, December 8, 2017.
The exercise is to be conducted by the Debt Management Office (DMO) on behalf of the Federal Government.
The debt office would be offering 2-Year FGN Savings Bond due December 13, 2019 at 11.738 percent per annum; and the 3-Year FGN Savings Bond due December 13, 2020 at 12.738 percent per annum.
Investors would be expected to subscribe 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 million with the interest payable quarterly.
The DMO said the bonds would be 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,” the debt office advised.
