The Debt Management Office (DMO) has released details for the June 2019 FGN Savings Bond offer. Below are the details:
How much can I buy? ₦1,000 per unit, subject to a minimum subscription of ₦5,000 and in multiples of ₦1,000 thereafter, subject to a maximum subscription of ₦50,000,000.
What is the minimum amount I can buy? Based on the above, the minimum amount you can buy is ₦5,000.
Interest rates: A 2-year FGN savings bond, due June 19, 2021, is rated at 11.418% per annum.
A 3-year FGN savings bond, due June 19, 2022, is 12.418% per annum.
When are coupon payment dates? September 19, October 19, March 19, June 19.
When will the principal be paid? Bullet repayment on the maturity date.
What about security for my money? The loan is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.
From where can I buy it? Contact your stockbroker if you want to buy the June 2019 FGN Savings Bond offer.
Remember that the offer closes by Friday this week (June 14).
What do you get when you invest?
Invest ₦100,000 – ₦11,418 per annum for a 2-year savings bond, and ₦12,418 per annum for a 3-year savings bond.
Invest ₦500,000 – ₦57,090 per annum for a 2-year savings bond, and ₦62,090 per annum for a 3-year savings bond.
Invest ₦1 Million – ₦114,180 per annum for a 2-year savings bond, and ₦124,180 per annum for a 3-year savings bond.
Remember that interest is paid quarterly. To get how much you will earn quarterly, divide what you get above by 4.
Source: DMO is offering FGN Savings Bond for June 2019; this what you can get
By Alfred Akuki
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