FGN opens 2nd tranche of savings bond

The second tranche of the federal Government’s retail bond offer opened on Monday April 03, 2017 and will end on Friday April 7th 2017, while the settlement date is April 12th.

The interest rate for the debts instrument, according to the Debt Management Office (DMO) stipulates that, the 2 years bond attracts 12.794 per cent, while the three years bond attracts coupon rate of 13.794 per cent.
At N100.00 per unit, the investment spelt for a minimum of N5,000 and a maximum of N50 million

According to Arm Investments, to invest in the second ranch of the FGN bond, the investor must have secured a Central Securities Clearing system (CSCS) Number, print or down load and fill the relevant portions of the FGN Savings Bond application form and Transfer the intended investment amount to the prescribed bank account number by the distribution and marketing outfit of the bond, and mail the completed form to the stockbroking firm or investment outfit.

Meanwhile, the federal government will on Wednesday 5th April, 2017 conduct primary auction of Treasury Bills valued N134.97 billion.
The T-bills are N28.12 Billion, tenured 90 days and at an indicative rate of 13 per cent to 13.30 per cent rate, followed by N23.68 Billion for 182 days and at the indicative rate of 16.0 – 16.80 per cent, while the N83.17 Billion T-bill is offered for 364 days at an indicative rate of 17.5 – 18.20 per cent.