“They are offered at 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 million. Interest is payable quaterly, while bullet repayment (principal sum) is made on maturity, ” the DMO said. It said that FGN bonds qualify as securities in which trustees could invest under the Trustee Investment Act. They qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds among other investors. They are listed on the Nigerian Stock Exchange Limited and FMDQ Securities Exchange Limited,” it said. It said that FGN savings bond qualify as liquid asset for liquidity ratio calculation for banks. According to the statement, it is backed by the full faith and credit of the FGN.
DMO Issues 2 FGN Savings Bonds at N1,000 Per Unit
