The Debt Management Office (DMO) has opened two federal government savings bonds for subscription at N1,000 per unit.
In a notice on Tuesday, the DMO said the subscription window
opened on April 7 and will close on April 10, with settlement scheduled for
April 15, 2026.
According to the agency, the two-year savings bond due April
15, 2028, is offered at an interest rate of 13.082 percent per annum, while the
three-year bond due April 15, 2029, is priced at 14.082 percent per annum.
“Unit of sale is 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 N50,000,000,” DMO said.
The agency added that coupon payments will be made quarterly
on April 15, July 15, October 15, and January 15.
According to the DMO, the bonds qualify as securities in
which trustees can invest under the Trustee Investment Act and are recognised
as government securities under the Company Income Tax Act and Personal Income
Tax Act, making them tax-exempt for pension funds and other eligible investors.
The DMO said the instruments will be listed on Nigerian Exchange Limited and “qualify as liquid assets for liquidity ratio calculations for banks”.
DMO said the securities are backed by the full faith and
credit of the federal government and charged upon the general assets of
Nigeria.
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