Monday, June 04, 2018 /11:25 AM / 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 June 13, 2020: 10.344% per annum
3-Year FGN Savings Bond due June 13, 2021: 11.344% per annum
Opening Date: June 4, 2018
Closing Date: June 8, 2018
Settlement Date: June 13, 2018
Coupon Payment Dates: September 13, December 13, March 13, June 13
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.
Bullet repayment on the maturity date
- Qualifies as securities in which trustees can invest under the Trustee Investment Act.
- 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.
- Listed on The Nigerian Stock Exchange.
- 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.
1. Banks Show Preference for Liquidity with Lower OMO Subscriptions
2. CBN sells c.N560bn T-bills to Moderate Excess Inflows from OMO T-bill Maturities
3. Bond Yields Compress as N300bn Bond Maturity hits System
4. Naira Strengthens in Parallel Market as CBN takes Measures to improve Dollar Liquidity
5. Bond Yields Compress on Demand from upcoming Bond Maturity
6. Funding Rates Crash to Single Digits as OMO Inflows Bolster System Liquidity
7. Summary of May 2018 FGN Bond Auction
8. Weak Auction Results Dampen Bond Market Outlook
9. Bond Market Reverses Prior Session Loss ahead of Auction
10. Bond Yields Tick Higher as GDP Growth slows in Q1 2018
11. Offshore Sellers Move Bond Yields higher ahead of CBN MPC Meeting
12. Market Players Under-subscribe CBN OMO due to System Liquidity Strain
13. Interbank FX rate rises amid Slowdown in Reserve Accretion
14. Funding Rates Crash Below 20% as CBN SLF hits 6-Month high at N239bn
15. Invest in FGN Monthly Bond Auction – May 2018
16. Funding Rates Spike to 1-yr High as CBN Further Tightens Liquidity with FX Sale
17. Funding Rates Spike to 7-Month High as Banks Fund for their Retail FX Bids
18. Funding Rates Spike as CBN Mops up System Liquidity with c.N454bn OMO Sale
19. Buhari Requests Senate Approval on Promissory Note and Bond Issuance to Settle Inherited Local Debts
20. NAFEX Rate hits 4-Month High amid Offshore Selloff