By Chizoba Ogbeche Abuja
Th e federal government has off ered for subscription two-year and three-year Savings Bonds to investors at 13.535 per cent and 14.535 per cent, respectively from August 7 (today) to August 11, 2017. A statement from the Debt Management Offi ce (DMO) said the two-year bond would be due in August next year, while the three-year bond had a maturity date of August 2020. “Th e off er has a minimum subscription of N5, 000 with increases thereafter in multiples of N1, 000 up to a maximum subscription of N50 million.
Th e bond is backed by the full faith and credit of the federal government, with quarterly coupon payments to bondholders. Th e savings bond will help broaden the country’s funding base,” it read in part. Th e FGN Savings Bond is targeted primarily at retail investors to enable them contribute to the development of the country, while also earning good returns on a safe investment in a Sovereign instrument. Th e FGN Savings Bond was launched by the DMO in March 2017 and is issued every month through stock broking fi rms trading on the Nigerian Stock Exchange.
