May 2018 FGN Savings Bonds Offer for Subscription

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Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004

Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates

2-Year FGN Savings Bond due June 13, 2020: 10.344% per annum

3-Year FGN Savings Bond due June 13, 2021: 11.344% per annum

Opening Date: June 4, 2018

Closing Date: June 8, 2018

Settlement Date: June 13, 2018

Coupon Payment Dates: September 13, December 13, March 13, June 13

Summary of the Offer

Issuer

Federal Government of Nigeria (“FGN”)

Units 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.

Interest Payment

Payable Quarterly

Redemption

Bullet repayment on the maturity date

Status

Qualifies as securities in which trustees can invest under the Trustee Investment Act.
Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
Listed on The Nigerian Stock Exchange.
Qualifies as a liquid asset for liquidity ratio calculation for banks.

Security

Backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.

Interested investors should contact the stockbroking firms appointed as distribution agents by the debt management office.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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