From Victor Osula, Abuja
The Debt Management Office on Monday announced an offer for subscription to two federal government savings bonds for March 2025 at interest rates of 16.635% and 17.635%, respectively.
A statement by the DMO, informed that the first offer is a two-year FGN savings bond due on March 12, 2027, at an interest rate of 16.635 per cent per annum.
The second offer is a three-year FGN savings bond due on March 12, 2028, at an interest rate of 17.635 per cent per annum.
The opening date for the offer is March 3, 2025, the closing date is March 7, 2025; the settlement date is March 12, 2025; while coupon settlement dates are June 12, September 12, December 12, and March 12.
“They are offered at N1,000 per unit, subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.
“While Interest is payable quarterly, bullet repayment (principal sum) is on the maturity date. They qualify as securities in which trustees can invest under the Trustee Investment Act,” DMO noted.
It added that they also qualify as government securities within the meaning of the Company Income Tax Act and the Personal Income.
Giving assurances that the savings bonds are backed by the full faith and credit of the FGN and charged upon the general assets of Nigeria, DMO added that they are listed on the Nigerian Exchange Limited and qualify as liquid assets for liquidity ratio calculations for banks.
