How To Invest On The FGN Bond; March 2018

0
141
CBN begs Nigerians to handle national currency with care
The Central Bank of Nigeria

The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government Of Nigeria Offers for Subscription by Auction and is authorized to receive applications for

N10,000,000,000 – 14.50% FGN JUL 2021 (5-Year Re-opening)*

N30,000,000,000 – FGN MAR 2025 (7-Year New Issue)*

N30,000,000,000 – 13.98 FGN FEB 2028 (10-Year Re-opening)*

See: What You Should Know About Bonds


Auction Date
: March 21, 2018
Settlement Date: March 23, 2018

SUMMARY OF THE OFFER

ISSUER:
Federal Government of Nigeria (“FGN”)

UNITS OF SALE:
N1,000 per unit subject to a minimum subscription of N10,000 and in multiples of N1,000 thereafter

INTEREST RATE:
For Re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus accrued interest from the original issue date.

INTEREST PAYMENT:
Payable semi-annually

REDEMPTION:
Bullet repayment on the maturity date

STATUS:
1. Qualifies as securities in which trustees can invest under the Trustee Investment Act
2. Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds amongst other investors
3. Listed on the Nigerian Stock Exchange
4. All FGN Bonds qualify as liquid assets for liquidity ratio calculation for banks

SECURITY:
FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria

HOW TO INVEST

Kindly download, print and complete the tender form. The duly completed form should be scanned and sent to: ievbosomon@dunnlorenmerrifield.com or bbhadmus@dunnlorenmerrifield.com

(1) The DMO reserves the right to alter the amount allotted in response to market conditions

* (2) Retail Investors are encouraged to participate.

Netherlands To Increase Investment In Nigeria

SOURCEProshareang
SHARE
Previous article8 Smart Money Moves for Single Women in Their 20s
Next articleShort-term Loan May Be Bad For You
Betty Chigozirim
Betty Chigozirim is a passionate Writer, Editor, Speaker, Poet, Blogger and a bunch of many creative abilities. A trained Information Professional @Abia State University, a Public Speaker/Corporate Presenter and also a Certified Project Management Professional. She is a calculated risk taker with deep tech knowledge on investment, inspiration and lifestyle, with many online and offline publications to her credit. She is a Writer and Editor for Investment Watch and most of her publications are geared towards inspiring people towards the right investment, Investment Opportunities, Personal Finance, Economy and Investment News. When she's not speaking, writing or exploring any of her creative abilities, you sure can find her reading, conversing with family and friends or finding a solution to a problem for the 13th Billionth time! You can follow/contact Betty by clicking any of the below: