The April 2024 Offer of the FGN Savings Bond is Now Open
The April 2024 FGN Savings Bond offer is now open from 02 April until 5pm, 04 April 2024.
Below is a summary of the April 2024 offer:
Two-Year FGN Savings Bond due 09 April 2026: 17.046 per cent per annum
Three-Year FGN Savings Bond due 09 April 2027: 18.046 per cent per annum
Issuer:
Federal Government of Nigeria
Unit of Sales and subscription amount
₦1,000 per unit subject to the minimum subscription amount.
Minimum subscription amount
₦5,000 in multiples of ₦1,000. That is, investors can invest ₦5,000, ₦6,000, 7,000 or more.
Maximum subscription amount
₦50,000,000
Interest Payment
Payable quarterly
Redemption
Bullet repayment of the full principal investment amount on the maturity date selected on the subscription form.
Effective yield
2 years - 18.167%
3 years - 19.304%
The DMO, in conjunction with the CSL (government stockbrokers), has automated the process of submitting FGN savings bond applications, and this automation has resulted in a few updates to the application process:
- Customers who do not have a CSCS account can no longer subscribe to the offer. However, a CSCS account can be opened for you before the offer closes.
- Subscribers must ensure their CSCS account is active.
- Kindly note that by submitting the subscription form, you consent that a Central Securities Clearing System (CSCS) account be opened for you, should you not have one, as this is a mandatory requirement for the subscription.
- The cut-off time for the FGN Savings Bond April 2024 offer is 5pm Thursday, 04 April 2024.
- All applications submitted on Friday, 05 April 2024 will not be processed.
- Clients must update their details and upload their payment evidence on this link https://www.sislbrokerage.com/FGNSB/#/FGN-Bond/subscribe
- Applications not updated on this link will not be processed.
- All applicants will be advised on the status of their application via email, during the course of the following week after the offer has closed.
The next investment window will open from Monday - Thursday, 06 - 09 May 2024.
Contact us
For enquiries, send an email to [email protected]
Why invest in the FGN Savings Bond?
Safe
The investment is backed by the “full faith and credit” of the Federal Government of Nigeria, hence, investors have the governments guarantee to pay investors’ principal and interest in full.
Regular stream of income
Interest is paid to investors quarterly, that is, every three (3) months.
Inclusive
Individuals, businesses and corporates can across various social classes can invest as the investment amount is from ₦5000 to ₦50,000,000.
Collateral
The investment can be used as collateral for loans from banks.
FGN Savings Bond
What is FGN Savings Bond?
- The Federal Government of Nigeria (FGN) Savings Bond is a risk-free investment issued by the Federal Government of Nigeria through the Debt Management Office (DMO).
- Every month, the DMO publishes the offer document for the month with details of the annual interest rate and other details clearly stated so investors are from the outset aware of the interest to be paid to them every three (3) months.
- With FGN Savings Bond, you are lending the federal government money to execute projects. In return, the government pays you interest or returns on your investment quarterly, that is, every three months. The annual percentage of your returns is stated on the monthly offer document that the Debt Management Office which makes the process transparent also.
What You Get
- Quarterly interest income, that is, interest payments every 3 months.
- Full principal investment sum at the maturity of the investment.
Frequently Asked Questions (FAQ)
- How much can I invest? - Between ₦5000 and ₦50,000,000 (five thousand naira to fifty million naira).
- What is the interest rate? - Kindly refer to the offer document for the current investment month to view the applicable interest rate .
- What are the risks?- It is risk-free because there is no risk of default of principal and interest.
For more details on the FGN Savings Bond, download the FGN Savings Bond FAQ document.
How to Invest
- Investors should make payment for subscription into the account below, using investor first and last name as the payment narration.
Account number: 0024904846
Account Name: SISL/FGN SAVINGS BOND
Bank: Stanbic IBTC Bank Limited
- Kindly complete the FGN Savings Bond Subscription form on behalf of the investor or share with the investor to complete the form themselves.
- Send the completed application form and payment receipt to [email protected]
Important: Kindly state your full name (first and last name in that order) as payment narration or description.
-
What is FGN Savings Bond?
-
What You Get
-
Frequently Asked Questions (FAQ)
-
How to Invest
- The Federal Government of Nigeria (FGN) Savings Bond is a risk-free investment issued by the Federal Government of Nigeria through the Debt Management Office (DMO).
- Every month, the DMO publishes the offer document for the month with details of the annual interest rate and other details clearly stated so investors are from the outset aware of the interest to be paid to them every three (3) months.
- With FGN Savings Bond, you are lending the federal government money to execute projects. In return, the government pays you interest or returns on your investment quarterly, that is, every three months. The annual percentage of your returns is stated on the monthly offer document that the Debt Management Office which makes the process transparent also.
- Quarterly interest income, that is, interest payments every 3 months.
- Full principal investment sum at the maturity of the investment.
- How much can I invest? - Between ₦5000 and ₦50,000,000 (five thousand naira to fifty million naira).
- What is the interest rate? - Kindly refer to the offer document for the current investment month to view the applicable interest rate .
- What are the risks?- It is risk-free because there is no risk of default of principal and interest.
For more details on the FGN Savings Bond, download the FGN Savings Bond FAQ document.
- Investors should make payment for subscription into the account below, using investor first and last name as the payment narration.
Account number: 0024904846
Account Name: SISL/FGN SAVINGS BOND
Bank: Stanbic IBTC Bank Limited
- Kindly complete the FGN Savings Bond Subscription form on behalf of the investor or share with the investor to complete the form themselves.
- Send the completed application form and payment receipt to [email protected]
Important: Kindly state your full name (first and last name in that order) as payment narration or description.