The Debt Management Office (DMO) has opened offers for subscription on two Federal Government of Nigeria (FGN) savings bonds in February with an interest rate of 17.799 per cent and 18.799 per cent respectively.

In a statement on Monday, February 3, 2025, the DMO disclosed that the first offer is a two-year savings bond due on February 12, 2027, at an interest rate of 17.799 per cent. The second offer is a three-year FGN savings bond due on February 12, 2028, at an interest rate of 18.799 per cent.

The bonds opened yesterday and are expected to close on February 7. 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," the DMO said.

The DMO further added that they are listed on the Nigerian Exchange Limited and qualify as liquid assets for liquidity ratio calculation for banks.