The Debt Management Office (DMO) has announced the availability of two Federal Government of Nigeria (FGN) bonds for subscription in October, priced at N1,000 per unit. The first bond is a two-year FGN savings bond, maturing on October 16, 2026, with an annual interest rate of 17.084%. The second offer is a three-year savings bond, maturing on October 16, 2027, with an interest rate of 18.084%.
The subscription period is open from October 7 to October 11, with the settlement date set for October 16. Interest payments will be made quarterly, on January 16, April 16, July 16, and October 16. Investors can subscribe with a minimum of N5,000 and in multiples of N1,000 thereafter, up to a maximum of N50 million.
The DMO emphasized that these bonds, like all other FGN securities, are backed by the full credit of the Federal Government. They are also eligible for investment by trustees under the Trustees Investment Act and are tax-exempt for pension funds. Additionally, the bonds are listed on the Nigerian Exchange Limited and qualify as liquid assets for banks in liquidity ratio calculations.
Credit: NAN (Text Excluding Headline)
