Invest in FGN Monthly Bond Auction - January 2022

Monday, January 17, 2022  / 09:30 AM / by DMO / Header Image Credit: Shulz; iStock

The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government Of Nigeria Offers for Subscription by Auction and is authorized to receive applications for:

N75,000,000,000  12.50% FGN JAN 2026 (10-Yr Re-opening)*

N75,000,000,000 - FGN JAN 2042 (20-Yr New Issue)*

Auction Date: January 19, 2022

Settlement Date: January 21, 2022

Summary Of The Offer

Issuer:

Federal Government of Nigeria ("FGN")

Units Of Sale:

N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter

Interest rate:

For Re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus accrued interest from the original issue date.

Interest payment:

Payable semi-annually

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 and and FMDQ OTC Securities Exchange
4. All FGN Bonds qualify as liquid assets for liquidity ratio calculation for banks

Security:

FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria.

How To Invest

Kindly download, print and complete the tender form.

The duly completed form should be scanned and sent to:

 ievbosomon@dunnlorenmerrifield.com or bbhadmus@dunnlorenmerrifield.com

* (1) The DMO reserves the right to alter the amount allotted in response to market conditions

* (2) Retail Investors are encouraged to participate

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