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    Security features of the new naira notes revealed by the CBN

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    Security features of the new naira notes revealed by the CBN

    JUST IN: CBN orders banks to begin payment of new notes over the counter

    Atiku heads to Europe on ‘business trip’

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    Obanikoro tells court how he gave Fayose N1.2bn from Lagos Security Account

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    They want to starve us of funds – IPOB  DOS cries out

    They want to starve us of funds – IPOB DOS cries out

    ‘Elements’ in Aso Villa want APC to lose election –  El-Rufai

    ‘Elements’ in Aso Villa want APC to lose election – El-Rufai

    Suspected herdsmen ambush Benue policemen, kill DPO

    Suspected herdsmen ambush Benue policemen, kill DPO

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    Equities Market Recorded Gains… As NGX-ASI Grows Marginally By 0.49%

    Equity Market turns bearish… As Value Traded Spikes by 409.01%

    The Local bourse Closed The Week Bearish… As the NGX-ASI fell by 0.18%.

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

    FGN Savings Bond rate rises above 12% in September 2022

    DMO offers N360 bn FGN Bonds for subscription in January

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    Sellers Sway the Performance of the Equities Market… As NGX-ASI Dips By 0.09%

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    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

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    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
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    2022 financial year: UAC of Nigeria posts N2.69 billion loss

    2022 financial year: UAC of Nigeria posts N2.69 billion loss

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    ELECTION: How to check your polling unit, code online

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    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    37 years between the Buhari regimes… Economic lamentations remain the same

    37 years between the Buhari regimes… Economic lamentations remain the same

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

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DMO to auction N150bn FGN Bond for July, 10-year rate slumps

Tuesday, 13 July 2021, 5:58 pm
in Markets, Rates & Bonds
0
UACN Property Development Company Plc set for early redemption of N4.355bn Series 1 Bonds
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The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria offers a total of N150 billion FGN bonds for subscription by auction in July 2021.

 The bonds are offered at different interest rates and tenors. However, the rate for the 10 year tenor slumped to 13.98% from the 16.2884% offered in June.

FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria.

The DMO offers:

  • N50,000,000,000 – 13.98 FGN FEB 2028 (10-Yr Re-opening)
  • N50,000,000,000 – 12.40% FGN MAR 2036 (20-Yr Re-opening)
  • N50,000,000,000 – 12.98% FGN MAR 2050 (30-Yr Re-opening)

Auction Date: July 19, 2021; Settlement Date: July 23, 2021.

Units of sale – N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.

Despite the slide in the 10-yr offer, the rates are significantly higher than the rates of the 2-year and 3-year FGN Savings Bond offered for July 2021. 

  • Read: Details of FG Domestic Debt Stock
  • Nigeria imports amount to N6.85 trn in Q1 2021, details of top 5 trading partners
  • Visit Investogist’s homepage for more articles

The interests are payable semi-annually, with a bullet repayment of the principal upon maturity.

For Re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument according the DMO.

Bond Status:

  1. Qualifies as securities in which trustees can invest under the Trustee Investment Act.
  2. 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.
  3. Listed on the Nigerian Stock Exchange and FMDQ OTC Securities Exchange.
  4. All FGN Bonds qualify as liquid assets for liquidity ratio calculation for banks.

Interested investors should contact offices of any of the following Primary Dealer Market Makers (PDMMs): Access Bank Plc, First Bank of Nigeria Ltd, Standard Chartered Bank Nigeria Ltd, Citibank Nigeria Ltd, First City Monument Bank Plc, United Bank for Africa Plc, Coronation Merchant Bank Ltd, FSDH Merchant Bank Ltd, Zenith Bank Plc, Ecobank Nigeria Ltd, Guaranty Trust Bank Plc, FBNQuest Merchant Bank Ltd, Stanbic IBTC Bank Plc.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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Security features of the new naira notes revealed by the CBN

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