Nigeria’s Debt Management Office (DMO) has announced a subscription offer of the Federal Government of Nigeria Savings Bonds comprising a 2-Year FGN Savings Bond due on July 12, 2025, with an annual interest rate of 9.070%, and a 3-Year FGN Savings Bond due on July 12, 2026, offering an annual interest rate of 10.070%.for
This initiative, authorized under the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, is intended to create opportunities for investors to earn competitive interest rates on their investments and also support the country’s economic growth
According to the DMO, the subscription period for the FGN Savings Bond opened on July 3, 2023, and will close on July 7, 2023. The Office encourages interested investors to apply during this timeframe to secure their participation. The settlement date for the bonds is set for July 12, 2023.
Once they subscribed, the bondholders will receive coupon payments at regular intervals. The coupon payment dates are scheduled for October 12, January 12, April 12, and July 12. These consistent payments provide investors with a reliable source of income over the bond’s duration.
The FGN Savings Bond programme is designed to attract domestic savings while simultaneously financing critical infrastructure projects and government initiatives and by investing in the debt instruments, individuals and organizations can contribute to the country’s development efforts and earn favourable returns on their investments.
The DMO advised interested investors to contact their financial advisors or visit its website for further details and application procedures.
