The Debt Management Office (DMO) has introduced high-yield savings bonds for April 2024, offering attractive interest rates of up to 18.046% per annum.
This initiative aims to counter rising inflation rates and provide investors with a means to hedge against inflation while ensuring stable returns.
The bonds, available in 2-year and 3-year options, are accessible to investors with a minimum subscription of N5,000 and multiples of N1,000, up to N50,000,000.
Interest payments are made quarterly, starting from July 9, 2024. Additionally, these bonds enjoy tax exemption privileges and are recognised as investment instruments for trustees.
The DMO’s decision aligns with broader monetary policy goals to stabilise the economy and foster sustainable growth, showcasing the government’s proactive approach to debt management and investment stimulation.
