DMO offers 2 FG savings bonds for subscription

4 months ago 6

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

DMO disclosed this in a statement on Monday.

It stated that the first offer is a two-year FGN savings bond due on Aug. 21, 2026, at an interest rate of 17.373 percent per annum.

The second offer is a three-year FGN savings bond due on Aug. 21, 2027, at an interest rate of 18.373 percent per annum.

The Opening date for the offer is Aug. 12, the closing date is Aug. 16, and the settlement date is Aug. 21, while coupon settlement dates are Nov. 21, Feb. 21, May 21, and Aug. 21.

“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 while bullet repayment (principal sum) is on the maturity date,” the DMO said.

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