FGN July 2019 bond auction

By Hamisu B. S

The Debt management office of Nigeria has released circular for the July 2019 FGN bond auction. DMO on behalf of Federal Government of Nigeria offer for subscription and is authorized to receive FGN bond application for:

N40,000,000,000 -12.75% FGN APR2023(5-Yr Re-opening)

N50,000,000,000 –14.55% FGN APR 2029 (10-Yr Re-opening)

N55,000,000,000 –14.80% FGN APR 2049 (30-YrRe-opening)


According to DMO, the FGN bond is offered at N1,000 per unit subject to a minimum subscription of N10,000 and in multiples of N1,000 thereafter.


Auction Date is July 24, 2019, and the Settlement Date is July 26, 2019


FGN bond is fixed income securities backed by the full faith and credit of the Federal Government of Nigeria and is charged upon the general assets of Nigeria.


INTEREST PAYMENT is Payable semi-annually


REDEMPTION will be Bullet repayment on the maturity date



·       Qualifies as securities in which trustees can invest under the Trustee Investment Act.

·        The coupon/interest income is tax-free

·        Listed on the Nigerian Stock Exchange, and FMDQ OTC Securities Exchange.


How to Invest: Interested investors should contact offices of any of the following primary dealers 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.


NB: The DMO reserves the right to alter the amount allotted in response to market conditions.

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