The Debt Administration Workplace (DMO) has opened subscriptions for 2 Federal Authorities of Nigeria (FGN) financial savings bonds at N1,000 per unit.
The primary supply is a two-year financial savings bond because of mature on April 16, 2027, at 16.046 per cent each year, whereas the second is a three-year financial savings bond because of mature on April 16, 2028, at an rate of interest of 17.046 per cent each year.
The FGN financial savings bond supply is tailor-made and focused at retail buyers. It presents assured quarterly curiosity funds and compensation of the principal at maturity.
In an announcement on its official web site on Monday, DMO mentioned the presents opened on April 7, 2025, will shut by April 11, 2025.
The DMO mentioned the settlement date is April 16, 2025, whereas coupon cost dates are made quarterly – July 16, October 16, January 16, and April 16.
Based on the DMO, “They’re provided at N1,000 per unit topic to a minimal subscription of N5,000 and in multiples of N1,000 thereafter, topic to a most subscription of N50 million.
“Curiosity is payable quarterly whereas bullet compensation is made on the maturity date.”
DMO mentioned the financial savings bonds, like all different authorities securities, are backed by the credit score of the Federal Authorities and charged upon the overall property of Nigeria, including that in addition they qualify as securities wherein trustees can make investments underneath the Trustees Funding Act.
“They qualify as authorities securities throughout the that means of the Firm Earnings Tax Act and Private Earnings Tax Act for tax exemption and pension funds, amongst different buyers,” DMO mentioned.
The company mentioned the bonds are listed on the Nigerian Alternate Restricted ( NGX) and qualify as liquid property for banks’ liquidity ratio calculations.
The Federal Authorities borrowed a complete of N1.94 trillion from bond buyers within the first quarter of 2025, this nonetheless, doesn’t embrace borrowings by means of the FGN financial savings bond programme.
