The federal government of Nigeria has opened the final savings bonds offer for the year 2024 through the Debt Management Office (DMO).
The offer includes a two-year savings bond, which is set to mature on December 11, 2026, and a three-year savings bond to mature on December 11, 2027.
The two-year bond has an interest rate of 17.48 per cent while the three-year bond attracts an 18.48 per cent interest rate.
Both offers opened on Monday, December 2, 2024 and will close on Friday, December 6, 2024. The settlement date is December 11, 2024, while the coupon payment dates are March 11, June 11 and December 11.
They are offered at N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000. The subscription is subject to a maximum of N50 million.
The federal government has allotted a total of N10.31 billion worth of 2-year savings bonds between January and November 2024, according to data from the DMO. A total of N29.38 billion 3-year savings bonds have also been issued within the same period.
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