FG Offers Two New savings Bonds For Subscription At N1,000

One is a two-year savings bond due on April 14, 2023, at an interest rate of 5.522 per cent per annum while the second offer is a three-year bond due on April 14, 2024, at an interest rate of 6.522 per annum.

Director General, Debt Management Office, Patience Oniha / Photo credit: dmo.gov.org
Director General, Debt Management Office, Patience Oniha / Photo credit: dmo.gov.org

The Debt Management Office (DMO), on Tuesday, opened two new Federal Government of Nigeria’s savings bonds for subscription at N1,000 per unit.

According to information obtained from the DMO’s official website, one is a two-year savings bond due on April 14, 2023, at an interest rate of 5.522 per cent per annum.

The second offer is a three-year bond due on April 14, 2024, at an interest rate of 6.522 per annum.

The bonds are opened at N1,000 per unit, with a minimum subscription of N5,000 in multiples of N1,000 thereafter and subject to a maximum of N50m.

“The bonds qualify as securities in which trustees can invest under the Trustee Investment Act.

“It is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria,’’ DMO explained.

It urged interested investors to contact the stock-broking firms appointed as distribution agents by the DMO.

(NAN)

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