DMO lifts suspension on FGN savings bond offer

Four months after it suspended the Federal Governmaent of Nigeria (FGN Savings Bond) offer, the Debt Management Office (DMO) announced on Thursday that it has lifted the suspension, as the debt securities will be on offer from next Monday.

A FGN Savings Bond, which is tailored/targeted at retail investors and includes a guaranteed interest payment and repayment of the principal, is issued by the DMO on behalf of the Nigerian government.

The DMO had in April suspended the bond offer following restrictions associated with the outbreak of the COVID-19 pandemic.

However, a statement issued by the debt management agency on Thursday said it was resuming the offer from Monday, August 10, 2020.

The statement read: “The Debt Management Office (DMO) wishes to announce the resumption of

its Offer of the Federal Government of Nigeria Savings Bond (FGN Savings Bond) effective August 2020.

“The DMO was constrained to suspend the monthly offers of the FGN Savings Bond in April 2020 due to the restrictions on activities and movement as part of measures adopted by the government to curtail the spread of COVID-19.”

It urged the general public to look out for the advertisement of the offer for subscriptions in various newspapers and the DMO’s website.

“The Offer for Subscription will open on Monday, August 10, 2020 and close on Friday, August 14, 2020.

“Investors are encouraged to continue saving through the FGN Savings Bond, as they attract good incomes and are secure, being a sovereign instrument, whilst also contributing to national development,” the statement concluded.

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