{"id":46392,"date":"2022-11-07T17:46:48","date_gmt":"2022-11-07T17:46:48","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=46392"},"modified":"2022-11-07T17:46:53","modified_gmt":"2022-11-07T17:46:53","slug":"dmo-issues-2-fgn-savings-bonds-for-subscription-at-n1000-per-unit","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/dmo-issues-2-fgn-savings-bonds-for-subscription-at-n1000-per-unit\/","title":{"rendered":"DMO issues 2 FGN savings bonds for subscription at N1,000 per unit"},"content":{"rendered":"<p>The Debt Management Office (DMO) has announced issuance of two Federal Government of Nigeria (FGN) Savings Bonds for subscription at N1,000 per unit.<\/p>\n\n\n\n<p>According to a statement by the DMO via its website on Monday, the first offer is a two-year FGN Savings Bond, due in Nov. 16, 2024 at interest rate of 12.492 per cent per annum.<\/p>\n\n\n\n<p>The second offer is a three-year FGN Savings Bond, due in Nov. 16, 2025 at 13.492 per cent interest rate per annum.<\/p>\n\n\n\n<p>\u201cThe offer is subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50million.<\/p>\n\n\n\n<p>\u201cInterest is payable quaterly, while bullet payment (principal sum) will be made on maturity.<\/p>\n\n\n\n<p>\u201cOpening date is Nov. 7, closing date is Nov. 11, and settlement date is Nov. 16, while coupon payment dates are Feb. 16, May16, Aug. 16 and Nov. 16,\u201d it said.<\/p>\n\n\n\n<p>It added that the savings bonds were backed by the full faith and credit of the Federal Government, and charged upon the general assets of Nigeria.<\/p>\n\n\n\n<p>\u201cThey qualify as securities in which trustees can invest under the Trustee Investment Act.<\/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 amongst others,\u201d said the DMO.<\/p>\n\n\n\n<p>It further stated that the bonds were liquid assets for liquidity ratio calculation for banks, and were listed on the Nigerian Stock Exchange.<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-46392\" data-postid=\"46392\" class=\"themify_builder_content themify_builder_content-46392 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>The Debt Management Office (DMO) has announced issuance of two Federal Government of Nigeria (FGN) Savings Bonds for subscription at N1,000 per unit. According to a statement by the DMO via its website on Monday, the first offer is a two-year FGN Savings Bond, due in Nov. 16, 2024 at interest rate of 12.492 per [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4650,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1366,949],"tags":[512,653],"class_list":["post-46392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy","tag-bonds","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 issues 2 FGN savings bonds for subscription at N1,000 per unit - 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-issues-2-fgn-savings-bonds-for-subscription-at-n1000-per-unit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DMO issues 2 FGN savings bonds for subscription at N1,000 per unit - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"The Debt Management Office (DMO) has announced issuance of two Federal Government of Nigeria (FGN) Savings Bonds for subscription at N1,000 per unit. 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