Excitement as FG Rolls out More Savings Bond Today

By Modupe Gbadeyanka

The Debt Management Office (DMO) has begun the sale of more FGN Savings Bond today, Monday, April 3, 2017 and this has excited some investors.

This followed the success of the first subscription of the offer, which was widely embraced by Nigerians, who had the opportunity of investing with as low as N5000.

The DMO, in a statement, said on behalf of the Federal Government of Nigeria (FGN), “offers for subscription and is authorized to receive applications for the FGN Savings Bond at the interest rates of 2-Year FGN Savings Bond due April 12, 2019: 12.794 percent and 3-Year FGN Savings Bond due April 12, 2020: 13.794 percent.”

The offer, which opened on Monday, April 3 2017, closes on Friday, April 7 2017, with the settlement date of Wednesday, April 12, 2017.

Interested investors have been advised to contact the stockbroking firms appointed as distribution agents by the DMO or check www.dmo.gov.ng for the list of distribution agents.

The debt office said the units of sale remains 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.