The October 2024 Offer of the FGN Savings Bond is Now Open
This is to inform you that the October 2024 FGN Savings Bond offer is now open and will close by 5pm on Thursday, 10 October 2024.
As communicated in past offers, the subscription is now fully digital, so subscribers only need to follow the investment guidelines provided below.
BEFORE YOU INVEST
- Kindly note that by submitting the subscription form, you consent that a Central Securities Clearing System (CSCS) account be opened for you to process your subscription as this is a mandatory requirement for the subscription.
- Please ensure that your name sequence is the same as that on your bank account, CSCS details and BVN for the subscription to be successful.
- The funds from all unprocessed FGN Savings Bond request will be refunded to the originating bank account without recourse to the investor.
- You will be required to upload your payment advice for the subscription.
HOW TO INVEST
- 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
- Kindly complete the FGN Savings Bond Subscription form (You will be required to upload your payment advice).
Important: Please state ‘Null’ if you do not know your stockbroker name and code.
ABOUT THE FGN SAVINGS BOND
It is an investment vehicle that allows investors lend funds to the Federal Government of Nigeria. The funds are used to execute projects and in return, investors are paid quarterly interest. The investment window opens for 4 or 5 working days once every month.
WHO CAN INVEST?
- Individuals (including joint account holders)
- Businesses
- Corporates
BENEFITS
- Safe: It is the safest form of investment in the Nigerian debt capital market as it is backed by the full faith and credit of the federal government.
- Transparent: The terms and returns on the investment are clearly stated on the monthly offer documents.
- Inclusive: The minimum investment sum is ₦5,000 while the maximum investment amount is ₦50,000,000, making it accessible to everyone.
Below is a summary of the October 2024 offer:
Two-year FGN Savings Bond due 16 October 2026: 17.084 per cent per annum
Three-year FGN Savings Bond due 16 October 2027: 18.084 per cent per annum
Coupon payment dates
16 January 2025; 16 April 2025; 16 July 2025 and 16 October 2025.
Issuer:
Federal Government of Nigeria
Unit of Sales
₦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 ₦5000, ₦6,000, 7,000 and 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 - 18.21 per cent
3 years - 19.348 per cent
Contact us
For enquiries, please email [email protected] or call 02 01 4220 004 or 0708 0602 700
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.