The federal government, through the Debt Management Office (DMO), has offered three FGN bonds valued at N150 billion for subscription at N1,000 per unit.<\/p>\n
According to a statement by the DMO on Monday, the first offer is an April 2029 FGN bond valued at N70 billion at an interest rate of 19.30 per cent per annum (five-year) re-opening.<\/p>\n
The second offer is a February 2031 FGN bond valued at N50 billion, at an interest rate of 18.50 per cent per annum (seven-year re-opening).<\/p>\n
There is also the May 2033 FGN bond valued at N30 billion, at a 19.89 interest rate per annum (nine-year re-opening)<\/p>\n
According to the DMO, the FGN bonds are offered at N1,000 per unit subject to a minimum subscription of N50 million and in multiples N1,000 thereafter.<\/p>\n
It said that for re-openings of previously issued bonds, successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned plus any accrued interest on the instrument.<\/p>\n
\u201cAuction date is September 23, while the settlement date is September 25.<\/p>\n
\u201cInterest is payable semi-annually, and bullet repayment (principal sum) is done maturity,\u201d it said.<\/p>\n
It said FGN bonds are backed by the full faith and credit of the federal government and are charged upon the general assets of Nigeria.<\/p>\n
\u201cThey qualify as securities in which trustees can invest under the Trustee Investment Act.<\/p>\n
\u201cQualify as government securities within the meaning of the Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds amongst other investors.<\/p>\n
\u201cThey are listed on the Nigerian Exchange Limited and FMDQ OTC securities Limited,\u201d the DMO said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The federal government, through the Debt Management Office (DMO), has offered three FGN bonds valued at N150 billion for subscription at N1,000 per unit. According to a statement by the DMO on Monday, the first offer is an April 2029 FGN bond valued at N70 billion at an interest rate of 19.30 per cent per […]<\/p>\n","protected":false},"author":25,"featured_media":49525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-49524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/49524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=49524"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/49524\/revisions"}],"predecessor-version":[{"id":49526,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/49524\/revisions\/49526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/49525"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=49524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=49524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=49524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}