The Debt Management Office has opened the September savings bond offer to investors.
The DMO said this in a circular on Monday that it is offering
the Federal Government’s two-year and three-year savings bonds.
The circular posted on its website was titled ‘FG savings
bond offer for subscription September,2021’.
According to the circular, the two-year FGN savings bond
will be due for redemption on September 15, 2023 at 7.915 per cent per annum,
while the three-year offer will be due on September 15, 2024 at 8.915 per cent
per annum.
The offer opened on Monday, with a closing date of September
10.
While the settlement date is September 15, the bonds have
coupon payment dates of December15, March 15, June 15, September 15, according
to the circular.
The units of sale are N1,000 per unit subject to a minimum
subscription of N5,000 and in multiples of N1,000 thereafter, subject to a
maximum subscription ofN50,000,000.
The interest rate is payable quarterly with bullet repayment
expected on the maturity date.
According to the circular, the bonds qualify as securities
in which trustees can invest under the Trustee Investment Act, and as a liquid
asset for liquidity ratio calculation for banks.
Listed on the Nigerian Stock Exchange, the bonds also qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds.
0 comments:
Post a Comment