Business - Economy
Updated: May 04, 2021

DMO Announces FGN May Bond Offer For Subscription

By Oluwatosin Ogunjuyigbe
May 04, 2021
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The Federal Government of Nigeria has through the Debt Management Office (DMO), opened the May savings bond offer to investors.

This disclosure is contained in a circular issued by the DMO on May 3, 2021, and can be seen on its website noting that there are 2-year and 3-year savings bonds.

Details obtained from DMO’s Website showed that investors are entitled to a minimum subscription of N5,000 and in multiples of N1,000 thereafter and subject to a maximum subscription of N50 million.

According to the debt office, the two-year FGN bonds are due on May 12, 2023, at 7.753 percent per annum; and the three-year FGN savings bond due on May 12, 2024, at 8.753 percent per annum.

The offer has an opening date of May 3, with a closing date of May 7, while the settlement date is May 12, with the coupon payment dates as follows: August 12, November 12, February 12, and May 12.