May 2019 FGN Savings Bonds Offer for Subscription


Monday, May 06, 2019  / 12:55PM / DMO


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 May 15, 2021: 11.745% per annum


3-Year FGN Savings Bond due May 15, 2022: 12.745%  per annum


Opening Date:                                  May 6, 2019


Closing Date:                                    May 10, 2019


Settlement Date:                              May 15, 2019


Coupon Payment Dates:                 August 15, November 15, February 15, May 15


Summary of the Offer 


Federal Government of Nigeria (“FGN”)


Units of Sale 

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 N50,000,000.


Interest Payment 

Payable Quarterly



Bullet repayment on the maturity date



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.



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.


Proshare Nigeria Pvt. Ltd.

Related News

1.       Demand For Long Term Bonds Pressure Yields Marginally Lower

2.      Debut 30-Year FGN Bond Oversubscribed At April Auction

3.      CBN to Auction c.N110bn T-Bills upon Resumption from Break

4.      Average Money Market Rate Rose By 6.65% To Settle At 16.86%

5.      Average Yield Contracts to 13.1% Amidst Buying Interests; PMA Holds on Thursday

6.      Summary of April 2019 FGN Bond Auction Results

7.      Average Yield Moderates to 13.3% on Absence of OMO Auctions

8.     Average Money Market Rate Fell By 10.72% To Settle At 10.22%

9.      Invest in FGN Monthly Bond Auction – April 2019

10.  Ecobank Launches New 5-Year Eurobond at 9.75% Re-Offer

11.   Outlook For Yields On FGN Bonds Remain Relatively Stable With Renewed Buying Interests On Maturities

Proshare Nigeria Pvt. Ltd.

Related News