DMO offers N225bn bonds for subscription
The Nigerian Debt Management Office, DMO, has made available for subscription three Federal Government Bonds valued at N225 billion.Infomation Guide Nigeria
This disclosure is included in a circular posted on the DMO’s website.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaThe bonds comprise a 14.55 percent FGN Bond due in April 2029, a 12.50 percent FGN Bond due in April 2032, and a 16.24 percent FGN Bond due in April 2037.
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The Debt office stated that the auction starting date for bonds is scheduled for Oct. 17 and the settlement date is Oct. 19, with initial maturities of 10, 10, and 20 years.
The office explained that “The bonds are offered at N1,000 per unit subject to a minimum subscription of N50 million, and in multiples of N1,000 thereafter.”
“They qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act; and for Tax Exemption for Pension Funds Administrators, among other investors,” the DMO added.
“They are backed by the full faith and credit of the Federal Government and charged upon the general assets of the country,’’ it said.Jamb Result
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