CEM REPORT, MARKET | The Debt Management Office (DMO) has open purchase for two FGN savings bonds for March 2023.
The bonds which are a 2-year FGN savings bond due March 15, 2025, being offered at a coupon rate of 9.465 per annum, and a 3-year FGN savings bond due March 15, 2026, offered at a coupon rate of 10.465 per cent per annum will close on Friday, March 10.
According to a notice by the DMO in a settlement, date for the tax-free papers is Wednesday, March 15, 2023, while the coupon payment dates are June 15, September 15, December 15, and March 15.
The bonds can be purchased through any of the licensed brokerage companies in the country for a minimum subscription of N5,000, and maximum subscription of N50 million.
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The FGN savings bond is a debt instrument issued by the Nigerian government to raise funds.