DMO Offers Fresh FG Bond To Investors With N50m Threshold

The Debt Management Office (DMO) has said that it is offering two fresh bonds to investors on behalf of the Federal Government.

The debt manager announced this on Monday on its official twitter handle.

DMO said the offer opens on Monday May 9, 2022 and closes on May 18, 2022.

The bonds include a two-year FGN Savings Bond at an interest rate of 7.93 per cent per annum due May 18, 2024.

It is also offering a three-year FGN Savings Bond at an interest rate of 8.93 per cent per annum, due May 18, 2025.

DMO said, “The bonds are offered at 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 million.

“Interest payment will be made quarterly, while bullet repayment will be made on the maturity date.

“They qualify as government securities within the meaning of Company Income Tax Act (CITA) and Personal Income Tax Act (PITA) for Tax Exemption for Pension Funds, among other investors.

“They are listed on The Nigerian Stock Exchange and qualify as a liquid asset for liquidity ratio calculation for banks.”