FGN Savings Bond 2022: DMO Opens February Subscription – The portal for subscription of Federal Government of Nigeria (FGN) Savings Bond through the Department of Debt Management Office (DMO) has been portal for February 2022
The Debt Management Office (DMO), on behalf of the Federal Government has announced the offer for subscription of the February 2022 Federal Government Savings Bond to investors.
This disclosure is contained in a circular issued by the DMO and can be seen on its website noting that there are 2-year and 3-year savings bonds, with interest rates of 7.22% and 8.22% respectively.
A breakdown of the bonds shows that the 2-year FGN savings bond will be due on February 16, 2024, at 7.22% per annum and the 3-year FGN Savings Bond which will be due on February 16, 2025, at 8.22% per annum.
Highlights
- Opening Date – February 7th, 2022
- Closing Date – February 11th, 2022
- Settlement Date – February 16th, 2022
- Coupon Payment Dates – May 16, August 16, November 16, and February 16
Unit of sale: 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 N50,000,000
A month-on-month comparison shows that the rates for the two tranches are lower compared to 7.542% and 8.542% offered for the 2-year FGN savings bond due January 19, 2024, and 3-year FGN Savings bond due January 19, 2025, respectively.
How to Download FGN Savings Bond Subscription Form
Kindly Click Here to Download the Form and visit www.dmo.gov.ng for submission
Important things to take note of while filling the application form for FGN Savings Bond
The Application Form, when completed, should be lodged with a Distribution Agent. Applications must be accompanied by full payment for the amount applied for, which must be paid to the Stockbroker/Distribution Agent at the time of submission. Payment may be in any form acceptable to the Distribution Agent.
Applicants should note that No Charges or Fees would be paid by investors.
