FGN Savings Bond
Issued by the Debt Management Office
All the Basics You Need to Know
What is an FGN Savings Bond ?
What is the purpose of the FGN Savings Bond?
- FGN Savings Bond helps deepen the national savings culture
- It provides the opportunity to all citizens, irrespective of income level, to contribute to National Development
- It also enables all citizens participate in and benefit from the favourable returns available in the Capital Market
- To diversify funding sources for the Government
How can I invest in FGN Savings Bond?
How much can I invest?
Will investors be required to have a bank account?
Will I get a bond certificate after I have bought the bond?
Benefits of FGN Savings Bond
- The bond earns an investor a coupon or interest income that will be paid quarterly, and directly into the investor’s bank account.
- The bond is safe and backed by the full faith and credit of the Federal Government of Nigeria.
- Government bonds hardly default and are considered “risk free”, so you are certain that you will get your money back in full at maturity.
- Interests are paid upfront allowing investors take advantage of time value of money
- The bond is acceptable as collateral for a loan from a bank.
What are the interest rates for FGN Savings Bond?
5 days from the date of announcement.The information will be published on the DMO’s website (https://www.dmo.gov.ng/fgn-bonds/savings-bond) and selected national dailies.
What is the tenor for FGN Savings Bond?
When and how will my interest and principal be paid?
Can I rollover my investment?
Can I terminate before Maturity?
because you cannot wait until March 2029 (at the maturity of the bond) to get your principal, you will only be entitled to the interest earned between March 13 and May 13, 2018.
There are other products that you can also take advantage of like fixed deposit which has a higher interest with withholding tax on the interest. You can invest in it for any desired tenure.
For further information please contact us via email at firstname.lastname@example.org. Alternatively, you can call us on the numbers below:
+234 909 889 3814, +234 909 889 3819
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