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Monday, March 02, 2020 / 11:42 AM /
DMO / Header Image Credit: Business Finance
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 March 11, 2022: 4.131% per annum
3-Year FGN
Savings Bond due March 11,
2023: 5.131% per annum
Opening
Date: March 2, 2020
Closing
Date: March 6, 2020
Settlement
Date: March 11, 2020
Coupon Payment
Dates: June
11, September 11, December 11, March 11
Summary of
the Offer
Issuer
Federal
Government of Nigeria ("FGN")
Units of Sale
N1,000 per unit
subject to a minimum Subscription of N5,000 and in mul4iples of N1,000
thereafter, subject to a maximum subscription of N50,000,000.
Interest
Payment
Payable
Quarterly
Redemption
Bullet
repayment on the maturity date
Status
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.
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