The Debt Management Office (DMO) has announced the opening of the FG Savings Bonds for the month of November 2020.
The Federal Government of Nigeria is offering a coupon of 2.759 per cent as annual return to investors for a three-year bond and 1.759 per cent for a two-year bond under government’s monthly savings bond issuance programme.
Opening date is on Monday, November 2, 2020
Closing date is on Friday, November 6, 2020
Settlement date is on November 11, 2020
Coupon payment dates are February 11, May 11, August 11, November 11.
Unit of Sales
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.
Minimum subscription amount is N5,000 with additions in multiples of N1,000.00, subject to a maximum of N50,000,000,
Benefits of an FG Savings Bond
- Guaranteed principal and coupon payment on investment.
- Security is tradable on the Nigerian Stock Exchange.
- Tax-free income.
- Default risk-free.