Tayo Busayo, Abuja
DAILY COURIER – The Debt Management Office has announced the offering of two Federal Government of Nigeria savings bonds for subscription in December, with interest rates of 17.48% and 18.48% per annum, respectively.
In a statement released on Monday, the DMO disclosed that the first offering is a two-year FGN savings bond set to mature on December 11, 2026, with a 17.48% annual interest rate.
The second is a three-year savings bond maturing on December 11, 2027, at an 18.48% annual interest rate.
The subscription period for the bonds opened on December 2 and will close on December 6, with settlement scheduled for December 11. Coupon payments are set for March 11, June 11, September 11, and December 11.
The bonds are priced at ₦1,000 per unit, with a minimum subscription of ₦5,000 and increments of ₦1,000 thereafter, up to a maximum of ₦50 million.
“Interest is payable quarterly, while the principal amount will be repaid in full on the maturity date,” the DMO stated.
The bonds are backed by the full faith and credit of the Federal Government of Nigeria, making them a secure investment option.
According to the DMO, the savings bonds qualify as securities under the Trustee Investment Act and are exempt from taxation under the Company Income Tax Act and the Personal Income Tax Act for certain investors, including pension funds.
The DMO further highlighted that the bonds are listed on the Nigerian Exchange Limited and qualify as liquid assets for liquidity ratio calculations by banks.
This offering comes as part of the Federal Government’s efforts to provide low-risk investment opportunities for Nigerians while mobilizing funds to support national development initiatives.
