Friday, September 22, 2023


DMO offers two FGN savings bonds at N1000 per unit

DMO offers two FGN savings bonds at N1000 per unit
June 06
09:53 2023

The Debt Management Office (DMO) has announced an offering for two Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit.

In a statement on Monday, DMO said the offers, which opened on June 3, 2023, will close by June 9, 2023.

The agency said the first offer is a two-year FGN savings bond due on June 14, 2025, at an interest rate of 10.301 percent per annum.

The second issuance, DMO said, is a three-year savings bond maturing on June 14, 2026, at 11.301 percent per annum interest rate.


The organisation also said coupon payment dates are September 14, December 14, March 14, and June 14 respectively.

“They are offered at N1,000 per unit subject to a maximum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million,” the statement reads.

“Interest is payable quarterly and the bullet repayment (principal amount) is done on maturity”.


The debt office said the latest offers have a settlement date of June 14, 2023.

The DMO noted that the FGN savings bonds were backed by the full faith and credit of the FGN and charged upon the general assets of the country.

“They qualify as securities in which trustees can invest under the trustee investment act,” DMO added.

“They qualify as government securities within the meaning of the company income tax act (CITA) and personal income tax act (PITA) for tax exemption, pension funds, amongst other investors.”


The savings bonds are also listed on the Nigerian Exchange Limited and qualify as liquid assets for liquidity ratio calculation for banks, the office said.


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

error: Content is protected from copying!