HighlightNews From MDA'S

FG Offers Monthly Savings Bond At 13.535%, 14.535% for Retail Investors

527

[dropcap]T[/dropcap]he Federal Government has offered for subscription two-year and three-year Savings Bonds to investors at 13.535 per cent and 14.535 per cent, respectively from Monday, August 7 to Friday, August 11, 2017.

A statement from the Debt Management Office (DMO) said the two-year bond will be due in August 2019, while the three-year bond has a maturity date of August 2020.

The offer has a minimum subscription of N5,000 with increases thereafter in multiples of N1,000 up to a maximum subscription of N50 million.

According to the DMO, the bond is backed by the full faith and credit of the Federal Government, with quarterly coupon payments to bondholders.

The DMO stated that the savings bond will help broaden the country’s funding base.

The FGN Savings Bond is targeted primarily at retail investors to enable them contribute to the development of the country, while also earning good returns on a safe investment in a Sovereign instrument.

The FGN Savings Bond was launched by the DMO in March 2017 and is issued every month through stockbroking firms trading on the Nigerian Stock Exchange.

The FGN Savings Bond is promoting the savings culture in the country and enhancing financial inclusion.

Since its introduction in March, the FGN Savings Bond has attracted a lot of new investors to the FGN Securities market with its attractive features.

The income earned on the FGN Savings Bond is exempted from taxes and it can be traded in the secondary market on the Nigerian Stock Exchange.

Leave a comment

Related Articles

MAG Supports FCT Police with State-of-the-Art Containerized Armoury

The Federal Capital Territory (FCT) Police Command has significantly upgraded its arms...

NNPC Ltd. Partners Baker Hughes to Drive Growth in Nigeria’s Oil and Gas Sector

The Nigerian National Petroleum Company Ltd (NNPC Ltd.) is exploring a strategic...

N1.12trn Agric Funds Scandal: House of Reps Launches Investigation

The House of Representatives Committee on Nutrition and Food Security has launched...

Nigeria Still Africa’s Top Oil Producer Despite Output Drop – OPEC

Despite a decline in production, Nigeria has retained its position as Africa’s...

UN Slams Benue Violence: Urges Authorities to Ensure Justice

United Nations Secretary-General António Guterres has strongly condemned the recent bloody attacks...

Nigeria’s Inflation Rate Edges Down to 22.97% – NBS 

Nigeria’s inflation rate saw a slight dip in May 2025, reaching 22.97%...

Nigeria Invites Burkina Faso, Niger, Mali for Abuja Regional Summit Despite ECOWAS Exit

Notwithstanding their departure from the Economic Community of West African States(ECOWAS), Nigeria...

PENGASSAN Urges Govt to Prioritize Security for Oil and Gas Infrastructure

The Petroleum and Natural Gas Senior Staff Association (PENGASSAN) has urged the...

These Killings Must Stop, 2Baba Laments Benue Butchery

More condemnation has trailed the persistent killings and insecurity in Benue State...

Defamation Trial: Court Refuses Sen. Akpoti-Uduaghan’s Arrest, Fixes Hearing Date

Justice Muhammed Umar of the Federal High Court in Abuja has dismissed...

Pastor Adefarasin Speaks Out AgainstBenue Killings: ‘Enough is Enough’

Senior Pastor of House on the Rock, Paul Adefarasin, has strongly condemned...

FCCPC Takes Action: Summons Air Peace Over Ticket Refund Complaints

Following numerous complaints from passengers, the Federal Competition and Consumer Protection Commission...

NOC Launches Construction of Five-Floor Headquarters in Abuja

The Nigeria Olympic Committee (NOC) has started building its ambitious permanent secretariat...

UK Court Jails Nigerian Caregiver for Forcibly Kissing His Patient

A Nigerian man living in the UK, Adewale Kudabo, has been handed...

Cocaine in the Gut: NDLEA Intercepts Iran-Bound Traveler with 53 Wraps

The National Drug Law Enforcement Agency (NDLEA) has made another significant arrest...

Pope Leo Offers Prayers for Benue Massacre Victims

Pope Leo has offered prayers for the victims of a devastating massacre...

India’s Deadly Skies: 7 Killed in Copter Crash 3 Days After Plane Tragedy

A helicopter carrying seven individuals, including the pilot, has tragically crashed in...

WEAAD 2025: NSCC DG Pledges Continued Support for Older Persons’ Rights

As the world observes World Elder Abuse Awareness Day (WEAAD), Mrs. Omobolanle...

Big Move: Ex-PDP Governors Wike, Fayose, Ortom, Ikpeazu “Meet” Tinubu at Aso Rock

President Bola Tinubu met with the Minister of the Federal Capital Territory,...

Trump Mulls Expanding Travel Ban to 36 Nations, Nigeria, Ghana, Benin on the List

The United States is reportedly considering a significant expansion of its travel...