The Debt Management Office (DMO) has recently announced the subscription process for two-year and three-year Federal Government of Nigeria bonds for March 2024, offering an attractive annual interest rate of up to 16.097 per cent.
According to the official website of the DMO, the subscription period for these bonds will run from March 4 to March 8, 2024, giving investors a five-day window to participate in this opportunity.
Investors can choose between the two-year and three-year Federal Government of Nigeria (FGN) savings bonds, with the two-year bond maturing on March 13, 2026, and offering an annual interest rate of 15.097 per cent. The three-year bond is set to mature on March 13, 2027.
The subscription process for these bonds will open on March 4 and close on March 8, with the settlement date scheduled for March 13. Interest payments will be made on June 13, September 13, December 13, and March 13 each year.
Under the authority of the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004, the DMO is authorized to receive applications for the Federal Government of Nigeria saving bonds on behalf of the government.
Investors can participate in this opportunity by subscribing for units of N1,000 each, with a minimum subscription of N5,000 and subsequent multiples of N1,000. The maximum subscription limit is set at N50,000,000, providing a wide range of options for investors to consider.
This announcement presents a unique opportunity for investors to participate in the Nigerian bond market and benefit from attractive interest rates offered by the Federal Government of Nigeria. Don’t miss out on this chance to grow your investment portfolio and secure your financial future.
