BusinessDay

FGN saving bonds subscription opens

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.

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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.