DMO auctions two FG bonds for subscription

The Debt Management Office (DMO), has announced the offer of two Federal Government of Nigeria (FGN) bonds for subscription.

The DMO stated this in a notice published on its Website yesterday.

The first offer is a two-year FGN savings bond, which will be due on May 18, 2024, at an interest rate of 7.93 per cent per annum.

The second one is a three-year FGN savings bond, which will be due on May 18, 2025, at 8.93 per cent per annum.

According to the DMO, the opening date for the bonds is May 9, while the closing date and settlement date is May 18.

Coupon payment dates are August 18, Nov. 18, Feb. 18 and May 18.

“The bonds 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,” the DMO said.