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FGN Bonds
FGN Bonds are typically long-term investments ranging from 3 to 50 years issued by the Debt Management Office (DMO) on behalf of the Federal Government of Nigeria (FGN).
Product Information
Description
Features
Benefits
Description
FGN Bonds are typically long-term investments ranging from 3 to 50 years issued by the Debt Management Office (DMO) on behalf of the Federal Government of Nigeria (FGN).
Features
- Long term debt instrument.
- It is listed on the stock exchange and is therefore tradable.
- Government bonds are tax-free.
- The minimum amount a customer can invest in Bonds is N50,001,000.00 for primary auction and an N100million for the secondary market. However, the Bank can sell from its position on a daily basis to customers.
Benefits
- An alternate form of investment.
- A statutory requirement for some Corporate institutions
- Multiple series of income i.e. twice a year
