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June 2017 FGN Savings Bond Opens June 5th


Tuesday, June 6, 2017 12:25 PM /Cordros Capital

This is to notify you of the FGN Savings Bonds Offer opening today.

Kindly find the features below, and download the subscription form 
here. The Offer closes Friday, June 09, 2017.





Investment type

Fixed income investment - Capital and Interest are guaranteed if held to maturity.


Interest Rate (Coupon)

Coupon is 13.189% (2-year) & 14.189% (3-Year). Interest payments are tax exempt.



Clients can easily buy or sell in the secondary market.



June 14, 2019 & June 14, 2020



2 & 3 years


Coupon/Interest Payment

It is paid quarterly. Principal will be paid at maturity together with the last coupon (interest payment).


Transfer and Custody Agent 

Central Securities Clearing System (CSCS)


Settlement Date

Transaction day plus three days (T+3).



It will be credited to Bond's holder CSCS account.


Subscription Amount 

Minimum of N5,000 plus multiples of N1,000 and maximum of N50,000,000


Subscription Tenor

The offer shall be open to investors for 5 days including the day the offer is announced and the date of closure


Modality of subscription           

Investors are to subscribe through stock broking firms accredited by the DMO to act as Distribution Agents (Cordros Capital is one of the DMO accredited stock broking firms) by filling the form in the above link and sending it back.


Auction and Frequency of Issuance         

The offer will open on the 5th of June and close on June 09, 2017. Settlement date is June 14, 2017


Offer Size      

DMO determines this at every auction.



The FGN Savings Bond will be listed and tradable on the Nigerian Stock Exchange (NSE).


Investing Procedure
·    Print and fill the portions of the FGN Savings Bond application form relevant to you. 

·   Ensure you have a CSCS Account Number in a Stock broking Firm and a bank account with valid BVN. 

·   Issue a cheque/draft or transfer the amount you intend to invest into the firm’s bank account.

·  Send the evidence of payment and completed subscription form to before or latest by 5pm on Thursday March 16, 2017. 

For more details, kindly contact  

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