FGN saving bonds subscription opens

Investors shun FG bonds on coronavirus pandemic

The subscription for Federal Government of Nigeria savings bonds opened on Monday February 3, 2020.

The 2-year FGN Savings Bond due February 12, 2022 has coupon rate of 5.91percent while the 3-year FGN Savings Bond due February 12, 2023 has coupon rate of 6.91percent.

These bonds are tailored and targeted at retail investors with guaranteed quarterly interest payment and repayment of the principal at maturity.

Related News

The subscription period for the 2 and 3 years tenored bonds runs from 8am on Monday February 3, 2020 till 12 noon on Friday February 7, 2020.

The Savings Bonds will have most of the features of the existing FGN Bond plus other features/benefits to the bondholder.

It will be backed by the full faith of the Federal Government of Nigeria and is therefore deemed risk free.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp