DMO Invites Nigerians To Invest In FGN Bond With 12% Interest Rate

The Debt Management Office has opened the offer for subscription of two-year and three-year Federal Government of Nigeria bonds for October with an interest rate of up to 12 per cent.

The DMO made this known in a statement on its official website.

“Invest in the FGN Savings Bond offer for October 2023 for as low as N5,000 and enjoy favourable returns. Also, the higher your subscription, the greater your returns. The offers open today and closes on Friday, October 6, 2023,” DMO said on Monday.

The subscription is open for four days from October 3rd to October 6th, 2023. The bonds will mature on October 11, 2025 and October 11, 2026 for the two-year and three-year bonds.

The bond offers an interest rate of 11.074 per cent per annum for the two-year bonds, while the three-year bonds offer an interest rate of 12.074 per cent per annum.

The interest on the bonds will be paid every quarter. The settlement date for both bond offerings will be October 11, 2023, while coupon payments has been scheduled for January 11, April 11, July 11, and October 11.

“The DMO outlines the units of subscription as N1,000 per unit, subject to a minimum subscription of N5,000, and subsequent multiples of N1,000, with a maximum subscription limit of N50,000,000,” DMO said.