FGN Savings Bond Offer 2022/ How To Apply

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FGN Savings Bond Offer 2022 portal for February registration is open, FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN) issued by the Debt Management Office (DMO) for and on behalf of the Federal Government. The FGN has an obligation to pay the bondholder the principal and agreed interest as and when due. Read more.

When you buy FGN Bonds, you are lending to the FGN for a specified period of time. The FGN Bonds are considered as the safest of all investments in domestic debt market because it is backed by the ‘full faith and credit’ of the Federal Government, and as such it is classified as a risk free debt instrument. They have no default risk, meaning that it is absolutely certain your interest and principal will be paid as and when due. The interest income earned from the securities are tax exempt.

FGN Savings Bond Offer 2022 portal is open for the following interest rate:

  1. 2-Year FGN Savings Bond due February 16, 2024: 7.220% per annum
  2. 3-Year FGN Savings Bond due February 16, 2025: 8.220% per annum

Opening Date: February 7, 2022 and Closing Date is: February 11, 2022

You need only a minimum of N5,000 to subscribe. Maximum amount for subscription is N50 million.

Requirements to buy FGN Bonds:

  1. Application forms can be obtained from any of the authorized dealers (PDMMs), or download from the DMO’s website  New FGN Bond Tender Form
  2. Complete the application forms and submit through any of the PDMMs.
  3. Common-price auction system is normally employed as opposed to multiple price auctions.
  4. Payments for the allotment are payable in full on application.
  5. Minimum of N50,001,000.00 and multiple of N1,000.00, thereafter.
  6. Investors can also access the FGN bonds after the Auctions in the secondary market through any of the broker-dealers on the FMDQ OTC Trading Platform or through Stanbic IBTC StockBrokers on The Nigerian Stock Exchange (NSE).
  7. FGN bonds purchase is confirmed by electronic registration in the Central Bank of Nigeria’s Scripless Securities Settlement System or by issue of certificates, where required.
  8. Interest is paid semi-annually until the maturity date when the principal amount is repaid.
  9. Payment of interest is through issue of interest warrant (cheque) or direct transfer to current or savings bank accounts of the investor.
  10. Bond holders who do not want to hold the bonds until maturity date can sell them at any time on the floors of the NSE or through, FMDQ OTC Trading Platform.

For more information: Visit  FGN Bonds

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