The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription by Auction and is authorized to receive applications for

N90,000,000,000 – 13.98% FGN FEB 2028 (10-Yr Re-opening)*

N90,000,000,000 – 12.50% FGN APR 2032 (15-Yr Re-opening)*

N90,000,000,000 - 16.2499% FGN APR 2037 (20-Yr Re-opening)*

N90,000,000,000 – 14.80% FGN APR 2049 (30-Yr Re-opening)*

Auction Date: March 20, 2023

Settlement Date: March 22, 2023

 Summary Of the Offer

Issuer:

Federal Government of Nigeria (“FGN”)

Units Of Sale:

N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter

Interest rate:

For Re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus accrued interest from the original issue date.

Interest payment:

Payable semi-annually

Redemption:

Bullet repayment on the maturity date

Status:

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

2. Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds amongst other investors

3. Listed on the Nigerian Stock Exchange and and FMDQ OTC Securities Exchange

4. All FGN Bonds qualify as liquid assets for liquidity ratio calculation for banks

Security:

FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria

How To Invest

Interested investors should contact offices of any of the Primary dealer market makers (PDMMs) listed in the offer circular