Finance

Fed Govt offers new savings bonds

Fed Govt offers new savings bonds

The federal government yesterday opened application list for a new issuance of its Federal Government of Nigeria Savings Bonds (FGNSBs).

The Debt Management Office (DMO, which oversees the issuance and management of Nigeria’s sovereign debt issues, is offering two tenors of retail bonds in continuation of government’s monthly issuance of low-saver bonds.

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 The offer is scheduled to close on Friday, August 11, 2023.

The minimum subscription is N5,000 while the maximum subscription is N50 million, with a coupon paid on a quarterly basis.

The government is  offering  a two-year FGN savings bond due on August 16, 2025 at 9.634 per cent per annum.

It is also simultaneously offering a  three-year savings bond due on August 16, 2026 at a coupon of 10.634 per cent per annum.

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The savings bonds are backed by the full faith of the Federal Government of Nigeria and are therefore deemed risk-free.

Thenation

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