The Federal Government has suspended its April 2020 savings bond offer, as a result of challenges of COVID-19 on the economy. The Debt Management Office disclosed on Wednesday that this decision was necessary after the President, Major General Muhammadu Buhari (retd.), announced restrictions of movement in the Federal Capital Territory, Lagos and Ogun states.
The restriction of movement was based on the need to keep the populace safe and contain the spread of the disease. The DMO stated, “As a result of this development, the Debt Management Office wishes to inform the general public that the FGN savings bond offer for the month of April 2020, which was scheduled for April 6 to April 10, 2020 has been suspended. “The DMO wishes to assure the general public that the FGN savings bond offers will resume when the conditions change.
“It should be noted that the suspension of the April 2020 offer will not affect coupon payments due to investors for already issued FGN securities as arrangements have been made to ensure that all coupon payments for and redemptions of FGN securities are made as and when due to investors’ designated accounts.”
The DMO urged the general public to adhere strictly to the Federal Government’s directives and cooperate with relevant government agencies that were working assiduously to contain the spread of the deadly disease.