FG Offers ₦1,000/Unit Savings Bond To Nigerians

The federal government, through the Debt Management Office (DMO) has offered for subscription two years and three years Federal Government Savings Bonds at ₦1,000 per unit.

The subscription was made available in a circular on the DMO website.

According to the information, the two years bond with Feb. 10, 2023 as due date would attract an interest rate of 4.214 percent per annum while the three-year bond, with Feb.10, 2024, as due date, will attract an interest rate of 5.214 percent per annum.

Further information on the offer has it that the bond is subject to a minimum subscription of ₦5,000 and in multiples of ₦1,000 thereafter and subject to a maximum subscription of N50, 000,000.

The opening date of the bonds is Feb. 1; closing date is Feb. 5, 2021 and the settlement date is Feb. 10, 2021.

According to the circular, “DMO on behalf of the Federal Government of Nigeria offers for Subscription and authourized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates:

“Two-Year FGN Savings Bond due Feb. 10, 2023: 4.21 per cent per annum, three-year FGN Savings Bond due Feb. 10, 2024: 5.214 per cent per annum.’’

“Coupon payment dates are May 10, Aug. 10 and Nov. 10, 2021.’’

The bonds are backed by the “full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria,’’ the DMO added.

To subscribe, interested persons are to contact the stockbroking firms appointed as distribution agents by the DMO.

Meanwhile, presidential Media Aide, Lauretta Onochie, has revealed why her principal took off his face mask in his home town Daura in Katsina on Saturday.

Recall that Buhari, during the revalidation of his membership of the All Progressives Congress (APC) in Daura, Katsina State, was seen without his facemask.

During his revalidation, the president failed to obey his order on social distancing as he was seen in the midst of scores of people with included some APC governors after signing an executive order

The regulations also stipulate a fine or six months imprisonment or both for violators.

But in a tweet via her Twitter page, Onochie stated that Buhari had his mask on during the exercise.

According to her, the president only removed his face mask while addressing party members and put it back afterward.