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February 5, 2018/Cowry Asset

The Debt Management Office (DMO) is issuing its monthly FGN Savings Bonds between Monday, February 5 2018 and Friday, February 9 2018. The bonds being issued are:
Bond Name                                                  Tenor  Current Coupon  Previous Coupon

2-Year FGN Savings Bond Due Feb 14, 2020  2 Years     10.277%             11.098%  

3-Year FGN Savings Bond Due Feb 14, 2021  3 Years      11.277%            12.098%   

Features:

Minimum subscription amount of N5, 000 with additions in multiples of N1, 000. Fixed interest rate to be paid on a quarterly basis while principal will be repaid on maturity. The rate will be announced on monthly basis before the commencement of the offer. The bond is backed by the full faith and credit of the Federal Government of Nigeria. The bond will be tradable on the Nigerian Stock Exchange. Settlement period is T+3

Benefits of investing in FGN Savings Bond:

Interest income from the savings bond is tax free. Returns are competitive and guaranteed Investors will enjoy interest payments on a quarterly basis while principal will be repaid on maturity. Provides liquidity as it will be tradable on the Nigerian Stock Exchange. The bond can be used as collateral for loan. Investing in the bond serves as savings towards retirement, marriage, school fees, house projects, etc.