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Federal Government of Nigeria Savings Bond Offer for September 2017

Proshare

Tuesday, September 12, 2017/9:12 AM/ Meristem Research

The Federal Government of Nigeria Savings Bond Offer is here again!!!

Subscription for the savings bond, which guarantees quarterly coupon payments, re-opens today the 11th of September 2017. The offer, according to the Debt Management Office (DMO), will remain open for five days till the 15th of September 2017, at the following rates:

·  2-Year FGN Savings Bond due September 20, 2019: 13.535%

·  3-Year FGN Savings Bond due September 20, 2020: 14.535%


FEATURES OF THE FGN SAVINGS BOND

 

Features

Tenor

2 and 3 years

Coupon

13.535% for 2years, 14.535% for 3 Years

Coupon Payments

Quarterly (4 times a year)

Subscription Amount

Minimum: N5,000

 

Maximum: N50,000,000

Additional Subscription

In multiples of N1,000

Secondary Market

Tradable on the Nigerian Stock Exchange (NSE)

Redemption

Principal repayment on the maturity date

Subsequent Offers

First week of every month

Tax on Interest

Interests are tax free

Capital Repayment

Guaranteed

Settlement Date

September 20th 2017

 
To invest in the FGN Savings Bond:

·  Download and complete the subscription form.

·  Make payment into the accounts of your broker

·  Scan and send a copy of the completed form, along with a mandate to subscribe for the FGN Savings Bond to your broker

If you do not have a CSCS account, kindly send a mail to your broker with the following details;

  • Passport photograph

  • State of origin

  • Local govt of state of origin

  • Date bank account was opened


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