Available for subscription are two Federal Government of Nigeria (FGN) savings bonds, each priced at N1,000 per unit, as announced by the Debt Management Office (DMO) in a statement released on Monday.
According to the statement, the initial offer is for a two-year FGN savings bond maturing on Aug. 21, 2026, with an annual interest rate of 17.373 percent.
The second offer is a three-year FGN savings bond due on Aug. 21, 2027, offering an interest rate of 18.373 percent per annum.
Subscriptions for these bonds will open on Aug. 12 and close on Aug. 16, with the settlement scheduled for Aug. 21. Coupon settlement dates are set for Nov. 21, Feb. 21, May 21, and Aug. 21.
The bonds are available at N1,000 per unit with a minimum subscription of N5,000 and subsequent multiples of N1,000, up to a maximum subscription of N50 million.
Interest will be paid quarterly, with the principal sum repaid in full on the maturity date.