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The Debt Management Office (DMO) has unveiled a new opportunity for subscription to two Federal Government of Nigeria (FGN) savings bonds, priced at N1,000 per unit.
The DMO disclosed this in a statement released on Monday in Abuja. These savings bonds are designed specifically for retail investors, ensuring a quarterly interest payout and full repayment of the principal upon maturity.
Source: UGC
The subscription period for these bonds will begin on August 12 and will close on August 16.
The statement revealed that the first offering is a two-year FGN savings bond set to mature on August 21, 2026, with an annual interest rate of 17.373 percent.
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According to the DMO, the second issuance is a three-year FGN savings bond that will mature on August 21, 2027, and carry an interest rate of 18.373 percent per annum.
The organization also stated that the settlement date is August 21, with coupon payment dates scheduled for November 21, February 21, May 21, and August 21.
The DMO said:
“They are offered at N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.”
The DMO noted that interest payments are made quarterly, with the principal amount due on the maturity date.
The agency also guaranteed that the FGN savings bonds are supported by the full faith and credit of the Federal Government of Nigeria and are secured by the country’s general assets.
Additionally, the bonds are listed on the Nigerian Exchange Limited (NGX) and are recognized as liquid assets for banks in calculating their liquidity ratios.
Source: Legit.ng
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