DMO suspends 2020 savings bond offer for April over covid-19 lockdown

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The Debt Management Office (DMO) announced on Monday that the FGN Savings Bond Offer scheduled for the month of April 6 -10, 2020 has been suspended.

This is sequel to the restriction of movement in Lagos, Ogun, and the Federal Capital Territory, and which President Muhammadu Buhari announced in a nation-wide broadcast on Sunday. The lockdown is commencing in both Lagos and the FCT at 11 pm Monday, while that of Ogun has been shifted to commence on Friday.
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Buhari had explained that the stay-at-home directive is to ensure safety of the citizenry and prevent a further spread of the Coronavirus outbreak.

However, the DMO said due to compliance to the movement restriction, it had become imperative for a shift in the savings bond offers and to subsequently commence whenever the lockdown eased.

“As a result of this development, the Debt Management Office (DMO) wishes to inform the general public that the FGN Savings Bond Offer for the month of April 2020, which was scheduled for April 6 – 10, 2020 has been suspended.

“The DMO wishes to assure the general public that the FGN Savings Bond Offers will resume when the conditions change.”

It said that the suspension of the April 2020 Offer would not affect Coupon Payments due to investors for already issued FGN Securities as arrangements have been made to ensure that all Coupon Payments for and redemptions of FGN Securities are made as and when due to investors’ designated accounts.

“We wish to use this opportunity to call on the general public to adhere strictly to Mr President’s directives and cooperate with relevant Government Agencies that are working assiduously to contain the spread of the Covid-19,” the statement stated.

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