The Debt Management Office (DMO) has announced two Federal Government of Nigeria (FGN) saving bonds for a subscription at N1,000 per unit.Information Guide Nigeria
According to a statement by DMO, the offer opens on June 3, 2023, and closes by June 9, 2023. LEGIT reports.
The DMO stated that the first offer is a two-year FGN savings bond due on June 14, 2025, at an interest rate of 11.301% per annum.
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Per the DMO, the second offer is a three-year savings bond maturing on June 14, 2026, at an 11.301% interest rate per annum. The Cable reports that the DMO said the coupon dates are September 14, December 14, and June 14, respectively.
DMO said:
“They are offered at N1,000 per unit subject to a maximum subscription of N5,000 and in multiples of N1,000 after that, subject to a maximum subscription of N50 million,” the statement reads.NYSC Portal
“Interest is payable quarterly, and the bullet repayment (principal amount) is done on maturity.”
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