The Federal Government has said that investors seeking to invest in its latest financial instrument must disclose some identification requirements to participate in the exercise.
It disclosed this in a Frequently Asked Questions document provided by the Debt Management Office on its website.
According to the FAQ, all Nigerian citizens, including those residing abroad, must possess a Bank Verification Number and a National Identification Number to subscribe to the domestic dollar bond, which was issued on Monday.
The bond, part of a broader $2bn programme, is issued domestically as the government seeks $500m from local and foreign investors in this first tranche.
Eligible participants include Nigerians resident in Nigeria, those in the diaspora with foreign exchange savings abroad, and foreign institutional investors.
The FAQ read in part, “A BVN and NIN are required for subscription. Nigerians in diaspora can apply for both BVN and NIN if they don’t already have them.”
The FAQ from the DMO also clarifies that subscriptions to the Domestic FGN US Dollar Bond cannot be made by cash.
Instead, all payments must be made through electronic transfers into designated accounts.
According to the FAQ, subscriptions to the bond can be made electronically or through financial institutions.
Also, for those intending to use balances in their domiciliary accounts for subscription, the funds must have been in the account for at least 30 days before the application date.
