DMO Offers Federal Government Savings Bonds for Subscription at N1,000 Per Unit
The Debt Management Office (DMO) has announced the availability of two Federal Government of Nigeria (FGN) savings bonds for public subscription, priced at N1,000 per unit.
In a statement released on Monday, DMO detailed the specifics of the bond offerings. The first bond is a two-year FGN savings bond, maturing on August 21, 2026, with an annual interest rate of 17.373%.
The second bond is a three-year FGN savings bond, set to mature on August 21, 2027, offering an annual interest rate of 18.373%.
The subscription period opened on August 12 and will close on August 16. The settlement date is scheduled for August 21, with coupon payments due quarterly on November 21, February 21, May 21, and August 21.
Each bond unit is priced at N1,000, with a minimum subscription requirement of N5,000. Additional subscriptions must be made in multiples of N1,000, up to a maximum of N50 million.
According to the DMO, interest on these bonds will be paid quarterly, with the principal sum repayable in full on the maturity date.