BUSINESS

DMO offers 2 new FG savings bonds for subscription at N1

Published

4 years ago

April 6, 2021

Kadiri Abdulrahman

The Debt Management Office (DMO), on Tuesday, opened two new Federal Government of Nigeria’s savings bonds for subscription at one Naira per unit.

According to information obtained from the DMO’s official website, one is a two-year savings bond due on April 14, 2023, at an interest rate of 5.522 per cent per annum.

The second offer is a three-year bond due on April 14, 2024, at an interest rate of 6.522 per annum.

The bonds are opened at N1 per unit, with a minimum subscription of N5000 in multiples of N1000 thereafter and subject to a maximum of N50 Million.

“The bonds qualify as securities in which trustees can invest under the Trustee Investment Act.

“It is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria,” DMO explained.

It urged interested investors to contact the stock-broking firms appointed as distribution agents by the DMO.

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Kadiri Abdulrahman

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