Tinubu’s Govt Invites Nigerians To Save Through Bonds, Offers 12% Interest Rate, Full Repayment 2026.

Federal Government through the Debt Management Office (DMO) of Nigeria, has announced a two-year and three-year savings bonds for October 2023.

in the statement made by DMO, the offer opens on October 03, 2023, and closes on October 06 2023.

 The debt office has also announced that the bonds would come with an interest rate of up to 12 per cent, and subscriptions will be open for four days.

According to DMO, the bonds will mature on October 11, 2025, and October 11, 2026, for the two-year and three-year bonds, respectively. 

“Invest in the FGN Savings Bond offer for October 2023 for as low as N5,000 and enjoy favourable returns. Also, the higher your subscription, the greater your returns. The offers open today and closes on Friday, October 6, 2023. The bond offers an interest rate of 11.074 per cent per annum for the two-year bonds, while the three-year bonds offer an interest rate of 12.074 per cent per annum.”

Every quater the interest on the bonds will be paid.

The dated slated for the settlement of both bond is October 11th, 2023, while coupon payments has been scheduled for January 11, April 11, July 11, and October 11.

 The subscription units stated by the DMO is N1,000 per unit, subject to a minimum subscription of N5,000 and subsequent multiples of N1,000, with a maximum subscription limit of N50,000,000.