The Debt Management Office (DMO) has unveiled the subscription process for the March 2024 Federal Government of Nigeria(FGN) bonds, featuring an annual interest rate of up to 16.097 percent.
The subscription period spans from March 4 to March 8, 2024. Investors have the option to choose between two-year and three-year bonds, with the latter maturing on March 13, 2027.
The two-year FGN savings bond, maturing on March 13, 2026, offers an annual interest rate of 15.097 percent. Subscription for the bond begun on March 4 and will close on March 8, with the settlement date set for March 13. Interest payments will occur quarterly.
Under the DMO’s authorisation on behalf of the federal government, investors can subscribe to the bonds in units of N1,000, with a minimum subscription of N5,000 and subsequent multiples. The maximum subscription limit is set at N50,000,000.
This initiative aligns with the government’s strategy to mobilise funds for developmental projects while providing attractive investment opportunities for individuals and institutional investors alike.
