The Debt Management Office (DMO) has announced the opening of subscriptions for two federal government savings bonds for November 2024.
Investors can subscribe to either a two-year or a three-year savings bond, both set to mature on November 13, 2026, and November 13, 2027, respectively.
The two-year bond carries an interest rate of 17.440 percent per annum, while the three-year bond offers a slightly higher rate at 18.440 percent per annum. Both bonds provide quarterly interest payments, making them attractive options for individuals seeking steady income.
Subscriptions for these bonds opened on Monday, November 4, 2024, and are set to close on November 11, 2024. The settlement date for successful applicants will be November 8, 2024. Coupon payments for these bonds are scheduled for November 13, 2024, February 13, May 13, August 13, and November 13, 2025, ensuring regular income distribution to bondholders.
The bonds are available at a price of N1, 000 per unit, with a minimum investment requirement of N5, 000 and additional investments in multiples of N1, 000. The maximum subscription limit is capped at N50 million.
Between January and September 2024, the federal government allotted N9.544 billion in two-year savings bonds and N24.547 billion in three-year savings bonds, as reported by the DMO. These figures highlight the growing interest in government securities as a means of investment for Nigerians looking for safe and profitable opportunities.
