{"id":42421,"date":"2022-05-14T18:07:51","date_gmt":"2022-05-14T18:07:51","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=42421"},"modified":"2022-05-14T18:08:00","modified_gmt":"2022-05-14T18:08:00","slug":"dmo-lists-n225bn-fgn-bond-for-subscription-by-auction","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/dmo-lists-n225bn-fgn-bond-for-subscription-by-auction\/","title":{"rendered":"DMO lists N225bn FGN bond for subscription by auction &nbsp;"},"content":{"rendered":"<p>The Debt Management Office (DMO) has announced an offer of three Federal Government of Nigeria (FGN),&nbsp;&nbsp;bonds valued at N225bn, for subscription through auction. &nbsp;<\/p>\n\n\n\n<p>The DMO announced the bonds offer in a statement on Thursday. &nbsp;<\/p>\n\n\n\n<p>The offers are N75bn, March 2025 FGN bond, at 13.53 per cent interest rate per annum (10 year re-opening) and N75bn,&nbsp;&nbsp;April 2032 FGN bond at 12.50 interest rate per annum (10-year re-opening) &nbsp;<\/p>\n\n\n\n<p>The third offer is N75bn, January&nbsp;&nbsp;2042 FGN bond, at 23 per cent interest rate per annum (20-year re-opening). &nbsp;<\/p>\n\n\n\n<p>The FGN bonds are offered at N1.000 per unit,&nbsp;&nbsp;subject to a minimum of N50m and in multiples of N1,000 thereafter. &nbsp;<\/p>\n\n\n\n<p>\u201cFor 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. &nbsp;<\/p>\n\n\n\n<p>\u201cInterest is payable semi-annually, while the bullet repayment is on the maturity date, \u201d the DMO said. &nbsp;<\/p>\n\n\n\n<p>It said that the FGN bonds qualify as securities in which trustees can invest under the Trustee Investment Act. &nbsp;<\/p>\n\n\n\n<p>\u201cThey also qualify as government securities within the meaning of Company Income Tax Act (CITA) and Personal Income Tax Act (PITA) for Tax Exemption for Pension Funds, among other investors. &nbsp;<\/p>\n\n\n\n<p>\u201cThey are listed on The Nigerian Stock Exchange and qualify as a liquid asset for liquidity ratio calculation for banks. &nbsp;<\/p>\n\n\n\n<p>\u201cFGN bonds are backed&nbsp;&nbsp;by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria, \u201d it said.&nbsp;&nbsp;&nbsp;<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-42421\" data-postid=\"42421\" class=\"themify_builder_content themify_builder_content-42421 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>The Debt Management Office (DMO) has announced an offer of three Federal Government of Nigeria (FGN),&nbsp;&nbsp;bonds valued at N225bn, for subscription through auction. &nbsp; The DMO announced the bonds offer in a statement on Thursday. &nbsp; The offers are N75bn, March 2025 FGN bond, at 13.53 per cent interest rate per annum (10 year re-opening) [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":32751,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125],"tags":[653],"class_list":["post-42421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","tag-dmo","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>DMO lists N225bn FGN bond for subscription by auction &nbsp; - 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\/dmo-lists-n225bn-fgn-bond-for-subscription-by-auction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DMO lists N225bn FGN bond for subscription by auction &nbsp; 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