FGN Savings Bond for June Closes Today

June 8, 2018
FGN Savings bond

By Dipo Olowookere

Subscriptions for the FGN Savings Bond for the month of June will close on Friday, June 8, 2018, Business Post is reporting.

The exercise, conducted on behalf of the federal government by the Debt Management Office (DMO), will end by 12 noon today.

The FGN Savings Bond for this month opened on Monday, June 4, 2018.

The savings bond, Business Post reports, gives Nigerians the opportunity to invest in the bond market for as low as N5,000.

It will be backed by the full faith of the Federal Government of Nigeria and is therefore deemed risk free.

The Savings Bonds will have most of the features of the existing FGN Bond plus other features/benefits to the bondholder.

The debt office is offering to investors the two-year and three-year papers at 10.344 percent and 11.344 percent per annum respectively.

Business Post reports that the rates the DMO is offering for the June FGN Savings Bond this month is higher than last month.

For the May edition of the FGN Savings Bond, the debt office offered the two-year coupon at 9.48 percent, while the three-year coupon was sold at 10.48 percent.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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