Two Federal Government of Nigeria (FGN) savings bonds are available for subscription at N1,000 per unit through the Debt Management Office (DMO).
The initial offer is a two-year FGN savings bond with an annual interest rate of 17.046 percent that is due on April 9, 2026, according to a statement from the DMO.
The second offering is a FGN savings bond with a three-year maturity date of April 9, 2027, and an interest rate of 18.046 percent annually.
“They are available for purchase for N1,000 per unit, with a N5,000 minimum subscription and N1,000 increments after that, up to a N50 million maximum subscription.
“The subscription period opened on April 1 and ended on April 5, with April 9 being the settlement date. The coupon payment dates are July 9 and October 9, Jan. 9, (2025) and April 9 (2025),” the DMO said.
It said that interests are payable quarterly while bullet repayment (principal sum) is on maturity date.
It assured that FGN savings bonds, like all other FGN securities, are 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.
“They qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension fund amongst other investors.
“They are listed on the Nigerian Exchange Limited, and qualify as liquid asset for liquidity ratio calculation for banks,” it said.
