The Debt Management Office has announced that the Federal Government of Nigeria has is offering for subscription the March, 2023 FGN Bond at the following interest rates:-
2-Year FGN Savings Bond due March 15th, 2025 @ 9.465% per annum
3-Year FGN Savings Bond due March 15th, 2026 @ 10.465% per annum
The rational of the Savings Bond issuance is to deepen the national savings culture, diversify funding sources for the government and establish a benchmark for other issuers of bonds in the country. It offers guaranteed returns and financial inclusion that enables individuals to enjoy those benefits which accrue to big investors in the capital market.
This will encourage the public, especially low income earners to save, invest and earn commensurate returns on their investments.
According to Debt Management Office (DMO). The timeline for the subscription can be found below:
Opening Date – March 6th, 2023
Closing Date – March 10th, 2023
Coupon Payment Date – June 15, September 15, December 15, March 15.