FGN Savings Bond March 2023
| ISSUANCE | MATURITY |
|---|---|
| 2 Year FGN Savings Bond | March 15, 2025; Coupon 9.465% per annum |
| 3 Year FGN Savings Bond | March 15, 2025; Coupon 10.465% per annum |
| Opening Date | Monday, March 6, 2023 |
| Closing Date | Friday, March 10, 2023 |
| Settlement Date | Wednesday, February 15, 2023 (this is the date the bonds will be credited into your CSCS Account domiciled with your broker). |
| Units of Sale | N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000. |
| Interest Payment | Quarterly (Coupon rate divided by 4) |
| Redemption | Bullet payment on the maturity date |
Purpose
- To deepen the national savings culture.
- To provide opportunity to all citizens irrespective of income level to contribute to National Development.
- To enable all citizens, participate in and benefit from the favorable returns available in the capital market.
- To diversify funding sources for the Government.
Benefits
- Interest income is paid quarterly directly into bond holder’s account.
- The Bond is acceptable as collateral for loans by banks and can be sold for cash in the secondary market before maturity.
- Good for savings towards retirement, marriage, school fees, house projects, etc.
- Safety-backed by the full faith and credit of the Federal Government of Nigeria.
Liquidity
The Bond will be listed on the Nigeria Stock Exchange for trading and provides liquidity for investors who want to exit before maturity.
Subscription Mode
Investors are to subscribe through stockbroking firms trading on the floor of The Nigerian Stock Exchange (NSE) and accredited by the DMO to act as Distribution Agents.
(Please visit www.dmo.gov.ng for the list of accredited Stockbroking Firms).
GTI Securities is one of the authorized Distribution Agents of the Federal Government Savings Bond.
How to Invest in FGN Savings Bond
- Please download and complete the FGN Savings Bond Subscription form by clicking here
- A duly completed subscription form should be submitted at our office or scanned and email to headoffice@gti.com.ng and make payment into our accounts stated below.
FGN Savings Bond Form
Download FGN Savings Bond Subscription Form
Payment Details:
Account Name: GTI Securities Ltd
Bank Name: Sterling Bank
Account Number: 0009883355
Sort Code: 232150207
On settlement date, CSCS will credit the investor’s account with the volume of bonds purchased.
Click here for Frequently Ask Questions on FG Savings Bond.
For further information, please contact;
Tunmise Aruna on 0815-996-6708, or send an email to headoffice@gti.com.ng
