The Debt Management Office (DMO) has opened the offer for a subscription to two Federal Government savings bonds for November.
One of these bonds is a two-year savings bond due to mature on November 13, 2026, at an interest rate of 17.440 percent per annum, while the other is a three-year savings bond, is due to mature on November 13, 2027, at an interest rate of 18.440 percent per annum. This is payable quarterly.
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Both offers opened on Monday, November 4, 2024, and will close on October 11, 2024. The settlement date is November 8, 2024, and the coupon payment dates are November 13, 2024, February 13, May 13, August 13, and November 13, 2025.
They are offered at N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000. The subscription is subject to a maximum of N50 million.
The Federal Government has allotted a total of N9,544.15 billion worth of 2-year savings bonds between January, and September 2024, according to data from the DMO. N24,546.95 billion 3-year savings bonds have also been issued within the same period. 1
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