February 03, (THEWILL) – The Debt Management Office (DMO), on Monday, announced an offer for subscription to two federal government savings bonds for February 2025 at interest rates of 17.799% and 18.799% respectively.
A statement by DMO on Monday said the first offer is a two-year FGN savings bond due on February 12, 2027, at an interest rate of 17.799% per annum. The second offer is a three-year FGN savings bond due on February 12, 2028, at an interest rate of 18.799% per annum.
The opening date for the offer is February 3, 2025; the closing date is February 7, 2025; the settlement date is February 12, 2025, while coupon settlement dates are May 12, August 12, November 12, and February 12.
“They are offered at N1,000 per unit, subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million. Interest is payable quarterly, while bullet repayment (principal sum) is on the maturity date. They qualify as securities in which trustees can invest under the Trustee Investment Act”, it said, adding that they also qualify as government securities within the meaning of the Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds, among other investors.
Giving assurances that the savings bonds are backed by the full faith and credit of the FGN and charged upon the general assets of Nigeria, DMO added that they are listed on the Nigerian Exchange Limited and qualify as liquid assets for liquidity ratio calculations for banks.
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