The Debt Management Office (DMO) on behalf of the Federal Government has announced the offer for subscription of the July 2021 FGN Savings Bond.
This is contained in a disclosure released by the agency on its website on Monday, 5th July 2021.
According to the disclosure, the 2-year bond was offered at 8.35% per annum as against the 7.753% offered in May 2021.
Also, the 3-year FGN savings bond was offered at 9.35%, an uptick compared to the 8.753% rate offered in the month of May, while the June 2021 FGN bond auction was oversubscribed despite the drop in interest rates.
2-Year FGN Savings Bond due July 14, 2023: 8.35% per annum
3-Year FGN Savings Bond due July 14, 2024: 9.35% per annum
Opening Date: July 5, 2021
Closing Date: July 9, 2021
Settlement Date: July 14, 2021
Coupon Payment Dates: October 14, January 14, April 14, July 14
Units of Sale
N1,000 per unit subject to a minimum Subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.
The bond is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.