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DMO Offers FG Savings Bonds For Subscription

DMO Offers FG Savings Bonds For Subscription

The Debt Management Office (DMO) is offering Federal Government bonds for the month of May to investors.

The DMO announced on Monday on its website the two-year and three-year savings bonds offer for subscription.

Bonds are issued by governments and corporates when they want to raise money. The buyer of such bond is giving the issuer a loan — to pay back the face value of the loan on a specific date, and to pay the buyer periodic interest payments along the way.

According to the debt office, the two-year FGN bonds are due on May 12, 2023 at 7.753 per cent per annum; and the three-year FGN savings bond due on May 12, 2024 at 8.753 per cent per annum.

They opened on May 3 and are expected to close on May 7.

While the settlement date is May 12, the bonds have coupon dates of August 12, November 12, February 12 and May 12.

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

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