WED, FEB 14 2024-theGBJournal|The Debt Management Office (DMO) on Wednesday announced fresh Offers for Subscription by Auction N2.5 trillion worth of FGN savings bonds to the public this month.
The offering is divided into two parts-N1.25 trillion for a 7-year period (Febuary 2031) and N1.25 trillion for a 10-year period (Febuary 2034).
The DMO fixed the Auction Date for February 19, 2024 while the Settlement Date is fixed for February 21, 2024
The bonds are available for purchase at a per unit cost of N1,000. To participate, a minimum subscription of N50,001,000 is required and subsequent increments can be made in multiples of N1,000.
According to the DMO, for Re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument.
FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
