DMO Opens Two New 2021 FGN Savings Bonds For Subscription.

The nation’s debt office, the Debt Management Office (DMO) has offered for subscription, two new Federal Government of Nigeria’s savings bonds at N1,000 per unit.

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The bond opens today 6th April 2021 and closes on 9th April 9th, 2021 and the DMO says one of the bonds is a 2-year savings bond due on April 14, 2023, at an interest rate of 5.522 per cent per annum, while the other is a 3-year FGN Savings Bond due April 14, 2024, at 6.522 per cent per annum
Each of the saving bonds is opened at N1,000 per unit, with a minimum subscription of N5,000 in multiples of N1,000 thereafter and subject to a maximum of N50 Million.
It also disclosed that the Settlement Date is fixed on April 14, 2021, and the Coupon Payment Dates are July 14, October 14, January 14, and April 14.

“The bonds qualify as securities in which trustees can invest under the Trustee Investment Act. It is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria,’’ DMO explained.

The DMO urged interested investors to contact the stock-broking firms appointed as distribution agents by the DMO.

The Debt Management Office (DMO) had also on March 18th 2021 listed its third Sovereign Sukuk “N162.557 Billion 7- year 11.20 percent Al Ijarah Sovereign Sukuk that is due 2027” on The Nigerian Stock Exchange and the FMDQ Securities Exchange.

The Sukuk which at the time of issuance was massively subscribed to the tune of N669.124 Billion or 446 percent, was issued to finance 44 economic road projects across the six (6)-geopolitical zones. With the listing, investors who are already holding the SUKUK can trade them while new investors have an opportunity to buy the SUKUK in the secondary market.


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