DMO Launches December Offer: FGN Savings Bonds Yielding 13.28% Interest Now Available

InfoStride News has commenced the subscription process for the Federal Government of Nigeria bonds for December 2023, featuring two-year and three-year options with interest rates set at 12.287% and 13.287%, respectively.

This significant development was communicated through an official statement posted on InfoStride News, the platform responsible for disseminating updates on financial matters. The subscription window is open for five days, running from December 4th to December 8th, 2023, providing potential investors with an opportunity to participate in these bond offerings.

The maturity date for both the two-year and three-year bonds is set for March 13th, 2024. As per the guidelines outlined in the statement, the Debt Management Office (DMO) is facilitating the subscription process in accordance with the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004. The DMO acts on behalf of the Federal Government of Nigeria in offering and receiving applications for these savings bonds.

Interest rates are a crucial aspect of bond investments, and in this case, the two-year bonds present an annual interest rate of 12.287%, while the three-year bonds offer a slightly higher rate of 13.287% per annum. The statement also discloses key dates for investors to be aware of, including the settlement date on December 13th, 2023, and subsequent coupon payments scheduled for March 13, June 13, September 13, and December 13.

Investors interested in participating in the subscription process should take note of the specified units, with each unit priced at N1,000. The minimum subscription amount is set at N5,000, allowing investors to subscribe in multiples of N1,000, with a maximum limit of N50,000,000. These bonds are tradable on the Nigerian Exchange Group (NGX), and interested parties are encouraged to reach out to authorized stock brokerage firms listed by the Debt Management Office (DMO).

Crucially, investors should be aware that the Federal Government of Nigeria fully backs FGN bonds, providing a level of assurance and security to those considering participation in this investment opportunity. As the subscription window remains open for a limited period, potential investors are advised to act promptly to capitalize on this opportunity to invest in the Federal Government of Nigeria bonds through InfoStride News.