Nigerian diaspora bonds represent a form of government debt securities crafted for Nigerians residing abroad who wish to contribute to the development of their homeland.
The inaugural issuance of Nigeria's diaspora bond occurred in 2017, generating $300 million in investments from individuals in the United States and the United Kingdom.
This bond featured a five-year maturity period and carried a 5.625 percent interest rate. The funds raised through this initiative were directed towards financing critical infrastructure projects within Nigeria.
To be eligible for participation in the Nigeria diaspora bonds program, individuals must fulfill the following criteria:
1. You must hold Nigerian citizenship or be a person of Nigerian heritage, possessing a valid passport or identity document.
2. You should maintain a bank account in your country of residence and also hold a foreign currency account in Nigeria.
3. You are required to commit a minimum investment of $100 or an equivalent amount in other currencies.
4. Registration with the Debt Management Office is mandatory for participation in this program.
You can apply for the Nigeria diaspora bond through the following methods:
Online: Visit the Debt Management Office (DMO) of Nigeria's website at www.dmo.gov.ng, complete the online application form, provide personal and bank account details, state your investment amount, and upload scanned identification and proof of address documents. Upon approval, you'll receive email confirmation.
Phone: Call the DMO at +234 9 462 3600 or +234 9 462 3601 to speak with a customer service representative who will assist you in the application process. You'll need to share the same information as online applicants and send your documents via email or fax. A phone call confirmation will be provided upon approval.
In-person: Visit authorized banks or stockbrokers in Nigeria or abroad, as listed on the DMO website at www.dmo.gov.ng. Fill out a physical application form, and present your identification documents and proof of address. Upon submission and approval, you'll receive a receipt.