DMO offers December FGN savings bonds

The Debt Management Office (DMO), on Monday, offered two Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit.

The first offer is a two-year FGN savings bond due on Dec. 13, 2025, at an interest rate of 12.287 per cent per annum.

The second offer is a three-year FGN savings bond due on Dec. 13, 2026, at an interest rate of 13.287 per cent per annum.

The opening date for both offers is Dec. 4 while the closing date is Dec. 8, according to the DMO.

The settlement date is Dec. 13 while coupon payment dates are March 13, June 13, Sept. 13 and Dec. 13.

“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.

“Interest is payable quarterly, and the bullet repayment is made on maturity,” the DMO said.

The DMO gave the assurance that the bonds, like all other FGN securities, were backed by the full faith and credit of the Federal Government and charged upon the general assets of Nigeria.

“They qualify as securities in which trustees can invest under the Trustees Investment Act,” it said.