According to details obtained from DMO’s Website, investors are entitled to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, and subject to a maximum subscription of N50 million.
The first offer, according to the DMO, is a two-year FGN Savings Bond due in May 12, 2023, with interest rate of 7.753 per cent per annum.
“They qualify as securities to which trustees can invest under the Trustee Investment Act.
“Qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension, listed in the Nigerian Stock Exchange.
“It qualifies as a liquidity ratio calculation for banks,” DMO stated.
It added that the bonds were backed by the full faith and credit of the Federal Government, and charged upon the general assets of Nigeria. (NAN)