The first offer is an April 2029 FGN bond valued at N70 billion at an interest rate of 19.30 per cent per annum (five-year) re-opening.
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The second offer is a February 2031 FGN bond valued at N50 billion, at an interest rate of 18.50 per cent per annum According to the DMO, the FGN bonds are offered at N1,000 per unit subject to a minimum subscription of N50 million and in multiples N1,000 thereafter. It said that FGN bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon Nigeria’s general assets.They also “qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds amongst other investors.”
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