DMO offers two savings bonds for September subscription

By Elizabeth Adegbesan

The Federal Government through the Debt Management Office, DMO, has offered two savings bonds for September subscription.

DMO made this announcement yesterday noting that the Savings bonds comprises a  2-Year FGN Savings Bond due Sept 16, 2028 at 14.12 percent per annum , and a  3-Year FGN Savings Bond due Sept 16, 2029 at 15.12 percent.

According to DMO, the offer closes on  September 11, 2026 with settlement date slated for September 16, 2026.

Coupon payment date runs through December 16, March 16, June 16 and September 16.

DMO noted that the unit for 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.

The office further said that interest is payable quarterly and redemption is a bullet repayment on the maturity date.

On the status of the savings bonds, DMO added: “It qualifies as securities in which trustees can invest under the Trustee Investment Act.

“Qualifies as Government securities within the meaning of Company Income Tax Act.(“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.

“Listed on The Nigerian Exchange.Qualifies as a liquid asset for liquidity ratio calculation for banks.

“Backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.”