April 12, 2024.
Thank you for reading this post, don’t forget to subscribe!
Azonuchechi Chukwu.
The Debt Management Office (DMO) is seeking to raise N450 billion in its April bond auction billed to take place on April 15.
This is in line with the agency’s plan to raise up to N1.8 trillion through FGN bonds in the second quarter (Q2) of 2024.
The DMO is offering N150 billion for the new FGN APR 2029 five-year bond. It is offering N150 billion for the reopened FFBN FEB 2031 17-year bond and N150 billion for the FGN FEB 2034 10-year bond.
The auction will take place on April 15 and the settlement date is April 17, 2024.
FGN bonds are auctioned every month through the DMO, with the interest paid semi-annually. They are subject to a minimum subscription of N50,000,001 and in multiples of N1,000 thereafter.
FGN bonds are recognized as investment instruments for trustees under the Trustee Investment Act. They receive tax exemption benefits for pension funds because they’re considered government securities, as per the guidelines in the Company Income Tax Act (CITA) and the Personal Income Tax Act (PITA).(www.naija247news.com).
Leave a Reply