FGN Savings Bond Offer
The Federal Government of Nigeria Savings Bond (FGNSB) is a government bond backed by the full faith and credit of the Federal Government of Nigeria (FGN), and listed on the Nigerian Stock Exchange. As a licensed stockbroker, First Securities Brokers is authorised to issue units of this offer to investors.
FGN Savings Bond Offer for Subscription – January 2024
Product Details
- 2-Year FGN Savings Bond due January 22, 2027
Interest Rate: 17.235%
- 3-Year FG Savings Bond due January 22, 2027
Interest Rate: 18.235%
*Investors may apply for either or both of these maturities, as preferred.
Application Dates
Opening Date: January 13, 2025.
Closing Date: January 17, 2025.
Settlement Date: January 22, 2025.
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.
Coupon Payment
Payable every quarter with principal repayment at maturity.
Coupon Payment Dates
April 22, July 22, October 22, January 22.
Security
The FGNSB is backed by the full faith and credit of the Federal Government of Nigeria (FGN)
Status
- Qualifies as securities in which Trustees can invest under the Trustee Investment Act
- Qualifies as government securities within the meaning of Company Income Tax Act (CITA) and Personal Income Tax Act (PITA) for Tax Exemption for Pension Funds, amongst other investors
- Will be listed on the Nigerian Exchange
- Qualifies as a liquid asset for liquidity ratio calculation for banks
Investors can subscribe through First Securities Limited, for the FGNSB issues being offered by taking the following steps:
- Open a CSCS stockbroking account with First Securities Limited. Please click here to access our account opening forms for this purpose; (N.B: Existing stockbroking clients with CSCS account numbers will only need to provide their CSCS account details).
- Obtain the FGNSB subscription form (form may be downloaded here)
- Make payment for subscriptions with the beneficiary name clearly indicated to our account within the subscription period:
Account Name: FBN Securities IPO Account
Bank: First Bank of Nigeria Plc.
Account Number: 2031788029
- Immediately fill and submit the subscription form
- Investors should immediately contact their Relationship Manager or send an e-mail to customercareunit@first-securities.com with evidence of payment for immediate confirmation of payment receipt.
The CSCS is expected to credit investors’ account with allotted FGNSB volume on the settlement date.
We will be happy to assist with any further enquiries about the subscription process or trading the FGN Savings Bond on the NSE.
For more information, kindly contact your Relationship Manager, email customercareunit@first-securities.com or call 02018886722.
