Unity Bank PLCLicenced by the Central Bank of Nigeria
Unity Bank PLCLicenced by the Central Bank of Nigeria
Product Description
Federal Government of Nigeria (FGN) Bonds are long term debt obligations of the Federal Government of Nigeria. They are administered by the Debt Management Office of Nigeria (DMO) and the Central Bank of Nigeria is the Registrar to the Bonds. In 2006, the DMO through the licensing of Primary Dealers Market Markers (PDMMs), made secondary market trading of the FGN to be more vibrant.
The primary function of the PDMMs is to create liquidity in the FGN Bonds through the two-way quote market
FGN bonds are issued with tenors of 3, 5, 7, 10 and 20 years and can be acquired at primary and secondary markets.
Coupon (Interest) is paid semi-annually to bond holders. The coupon rate will depend on the initial yield fixed for the fresh issue of the bond and this runs throughout the life span of the bond.
Branches are advised to contact Treasury whenever we have customers who are desirous of investing in Bonds.
