DMO offers April FGN savings bonds at N1,000 per unit
The Debt Management Office (DMO), on Monday, offered two Federal Government of Nigeria (FGN) savings bonds for April at N1,000 per unit.
According to the DMO, the first offer is a two-year FGN savings bond due on April 12, 2025, at an interest rate of 10.033 per cent per annum.
The second offer is a three-year FGN savings bond due April 12, 2026, at an 11.033 per cent per annum interest rate.
“The offer opens on April 3 and closes on April 7.
“Minimum subscription is N5,000 with multiple of N1,000 thereafter, subject to a maximum subscription of N50 million.
“Interest is payable quarterly while bullet repayment (principal sum) is on maturity,” the DMO said.
It said that FGN savings bonds qualified as securities in which trustees could invest under the Trustee Investment Act.
“They also qualify as government securities within the meaning of the Company Income Tax Act (CITA) and Personal Income Tax Act (PITA) for tax exemption for pension funds.
“They are listed on the Nigerian Stock Exchange Limited and qualify as a liquid asset for liquidity ratio calculation for banks.
“They are backed by the full faith and credit of the FGN and charged upon the general assets of the country.’’
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Lagos
Court dismisses police officer’s ‘no-case’ submission in murder of Bolanle Raheem
Ms Harrison ruled that Mr Vandi has a case to answer.
States
Plateau Assembly unaware of court judgement reinstating speaker: Member
Some house members expressed joy that the court reinstated Mr Ayuba as the speaker of the House of Assembly.
Showbiz
Davido’s ‘Timeless’ breaks global record of most first-day streams on Apple Music
The Nigerian musician first announced the release of his album in the early hours of last Friday.
States
Ondo: Akeredolu goes on leave, hands over to deputy governor
According to him, a letter had been transmitted to the State House of Assembly notifying the parliamentarians of the governor’s annual leave.
Abuja
My wife constantly threatens to kill me, husband tells court
Ms Oyibo also told the court that his wife no longer played her role in the family as a wife.
Politics
Oyo REC explains reasons for supplementary election in two federal constituencies
He said that security agencies had assured members of the public of adequate and maximum security.
