DMO issues 2, 3 year Savings Bonds at 10.277% and 11.277%

The Federal Government of Nigeria Savings Bond offer for February opened on Monday the 5th of February 2018 and will remain open for five days till the 9th of February 2018.

Subsequently, the Debt Management Office (DMO) has announced that the bonds will be offered at the following rates: 2-Year FGN Savings Bond due February 14, 2020: 10.277 per cent interest while the 3-Year FGN Savings Bond due February 14, 2021 attracts 11.277 per cent interest respectively.

Features of the FGN Savings Bond: tenor 2 and 3 years; coupon 10.277% for 2years, 11.277% for 3 years; coupon payments quarterly (4 times a year); subscription amount minimum: N5,000; maximum: N50,000,000; additional subscription in multiples of N1,000.

The bonds are Secondary Market tradable on the Nigerian Stock Exchange (NSE), subsequent offers – first week of every month. It is tax free on interest and capital repayment  is guaranteed