{"id":41169,"date":"2022-03-10T17:48:53","date_gmt":"2022-03-10T17:48:53","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=41169"},"modified":"2022-03-10T17:48:58","modified_gmt":"2022-03-10T17:48:58","slug":"nigerian-bonds-are-good-collateral-instruments-for-bank","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/nigerian-bonds-are-good-collateral-instruments-for-bank\/","title":{"rendered":"Nigerian bonds are good collateral instruments for bank"},"content":{"rendered":"<p>The Debt Management Office (DMO) says Federal Government of Nigeria\u2019s (FGN) savings bonds are acceptable as collateral for loans in banks.<\/p>\n\n\n\n<p>Clarifying issues surrounding the savings bonds, its Director-General, Ms Patience Oniha, stated on Wednesday in Abuja that the bonds were financial instruments issued by the DMO on behalf of government.<\/p>\n\n\n\n<p>She added that they are backed by the full faith and credit of the Federal Government.<\/p>\n\n\n\n<p>\u201cFGN bonds are issued monthly in tenors of two years or three years, and there are no fees or charges for subscription.<\/p>\n\n\n\n<p>\u201cThey can be sold for cash at the Nigeria Stock Exchange (NSE) and they are acceptable as collateral for loans by banks,\u2019\u2019 she stated.<\/p>\n\n\n\n<p>The director-general added that the bonds were good for savings towards retirement, marriages, payment of school fees and for housing projects.<\/p>\n\n\n\n<p>\u201cMinimum subscription is N5,000 while the maximum subscription is N50 million.<\/p>\n\n\n\n<p>\u201cInterests on the bonds are paid quarterly,\u2019\u2019 she explained.<\/p>\n\n\n\n<p>Oniha urged interested subscribers to contact the NSE or agents posted and updated on the official website of the DMO<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-41169\" data-postid=\"41169\" class=\"themify_builder_content themify_builder_content-41169 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>The Debt Management Office (DMO) says Federal Government of Nigeria\u2019s (FGN) savings bonds are acceptable as collateral for loans in banks. Clarifying issues surrounding the savings bonds, its Director-General, Ms Patience Oniha, stated on Wednesday in Abuja that the bonds were financial instruments issued by the DMO on behalf of government. She added that they [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":21931,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125],"tags":[507],"class_list":["post-41169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","tag-bond","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nigerian bonds are good collateral instruments for bank - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/nigerian-bonds-are-good-collateral-instruments-for-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigerian bonds are good collateral instruments for bank - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"The Debt Management Office (DMO) says Federal Government of Nigeria\u2019s (FGN) savings bonds are acceptable as collateral for loans in banks. Clarifying issues surrounding the savings bonds, its Director-General, Ms Patience Oniha, stated on Wednesday in Abuja that the bonds were financial instruments issued by the DMO on behalf of government. 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