Invest In FGN Bond Auction Today!

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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 
 
N50,000,000,000 – 14.50% FGN JUL 2021 (5-Yr Re-opening)*
 
N50,000,000,000 – 16.2884% FGN MAR 2027 (10-Yr Re-opening)* 
 
Auction Date: November 22, 2017
 
Settlement Date: November 24, 2017 
 
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
 
(1) The DMO reserves the right to alter the amount allotted in response to market conditions
 
* (2) Retail Investors are encouraged to participate.
Source: proshareng.com
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Bethel Chigozirim
Bethel 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 her by clicking any of the below: