AGS NEWS – The Debt Management Office (DMO) has announced the availability of two Federal Government of Nigeria (FGN) savings bonds for subscription, priced at N1,000 per unit.

The first bond is a two-year savings bond maturing on August 21, 2026, with an interest rate of 17.373% per annum.

The second is a three-year bond maturing on August 21, 2027, offering an interest rate of 18.373% per annum.

Subscriptions opened on August 12 and will close on August 16, with settlement scheduled for August 21. Interest payments will be made quarterly, on November 21, February 21, May 21, and August 21.

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Investors can purchase the bonds starting at a minimum of N5,000, with additional investments in multiples of N1,000 up to a maximum of N50 million.

The principal amount will be repaid in full at maturity.

The DMO assured investors that these bonds are fully backed by the Nigerian government and qualify as securities for trustee investments, tax-exempt for pension funds, and liquid assets for banks.

The bonds are also listed on the Nigerian Exchange Limited.

Interested investors are advised to contact stockbroking firms appointed by the DMO.