FG Raises N1.79bn From Savings Bond In February- DMO

The Federal Government has raised N1.79bn from the February savings bond allotment, the Debt Management Office has revealed.

Nigeria’s Debt Office disclosed this on Thursday in the savings bond results, seen by THE WHISTLER.

The DMO had on February 1, this year offered for subscription on behalf of FG the bond with a two- year and three- year tenure at N1, 000 per unit.

DMO said that the two years bond with February 10, 2023 as due date would attract an interest rate of 4.214 per cent per annum, while the three-year bond, with February 10, 2024 as due date, would attract an interest rate of 5.214 per cent per annum.

The DMO stated that the minimum subscription for the bond was N5, 000 and should be in multiples of N1, 000 thereafter, and subject to a maximum subscription of N50,000,000.

For the three-year bond, with February10, 2024 and 5.214 interest, DMO noted that N1.12bn was raised from the allotment.

According to the Debt Office, the three-year bond recorded 172 successful subscriptions.

DMO noted that the Coupon payment dates are May 10, August 10 and November 10, 2021.