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FG invites Nigerians to invest in savings bonds with only N5k, offers 18.44% interest rate

The Debt Management Office (DMO) has announced that two savings bonds from the federal government of Nigeria are available for subscription at N1,000 per unit.

In a statement, the Debt Management Office (DMO) announced that the first offer is a two-year FGN savings bond, maturing on November 13, 2026, with an interest rate of 17.440% per annum.

Interest payments are made quarterly, with the principal amount due on the maturity date.

The second offer is a three-year FGN savings bond due November 13, 2027, at an interest rate of 18.440% per annum.

Details of the savings bond

The opening date for the offer is November 4, 2024, the closing date is Friday, November 8, 2024, and the settlement date is November 13, 2024, while coupon settlement dates are February 13, May 13, August 13, and November 13.

Part of the DMO statement reads: “They are offered at N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 after that, subject to a maximum subscription of N50 million.

“Interest is payable quarterly while bullet repayment (principal sum) is on the maturity date.”

DMO advises investors

The FGN savings bonds are fully backed by the credit and assets of the Federal Government of Nigeria (FGN).

Punch reports these bonds are eligible securities for trustee investments under the Trustee Investment Act.

They also qualify as government securities under the Company Income Tax Act and the Personal Income Tax Act, offering pension funds and other investors tax exemptions.

Additionally, the bonds are listed on the Nigerian Exchange Limited and count as liquid assets for banks’ liquidity ratio calculations.

The DMO advises interested investors to contact one of the appointed stockbroking firms for further information.

 

Source: legit.ng

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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