The Debt Management Office says it has offered two federal government of Nigeria savings bonds for subscription at N1,000 per unit.
A bond is a fixed income instrument made by an investor to a borrower — usually corporate or government. The offer comes at N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million. “They qualify as Government securities within the meaning of Company Income Tax Act and Personal Income Tax Act and for Tax Exemption for Pension Funds, among other investors,” DMO added.
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