TheCable

The Debt Management Office (DMO) has announced the resumption of the FGN savings bond offer, four months after its suspension.

The FGN savings bond offer, which is issued by the DMO on behalf of the federal government, is targeted at retail investors and includes a guaranteed interest payment.

The offer, which was slated for April 2020, was suspended due to the COVID-19 outbreak in Nigeria.

However, in a statement on Wednesday, the agency said it was resuming the offer from August 10, 2020.

“The DMO wishes to announce the resumption of its offer of the federal government of Nigeria savings bond (FGN savings bond) effective August 2020,” the statement read.

“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.

“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.”

According to the statement, the agency urged the general public to look out for the advert of the offer in various newspapers as well as the DMO’s website.