DMO to raise N1.2bn via FGN bonds in Q1
Patience Oniha, DG DMO

The Debt Management Office (DMO), on behalf of the Federal Government, has announced the offer for a subscription to the November 2022 Federal Government Savings Bond.

According to DMO, the Savings Bond are in two tranches: 2-year and 3-year savings bonds, with interest rates of 12.492% and 13.492% respectively.

The opening date for subscription was November 7th, 2022 and the closing date is November 11th, 2022.

The settlement date is November 16th, 2022 and coupon payment dates will be on February 16th, May 16th, August 16th, and November 16th 2023.

Unit of sale: 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 N50,000,000.

The 2-year FGN savings bond will be due on 16th November 2024, at 12.492% per annum while the 3-year FGN Savings Bond will be due on 16th November 2025, at 13.492% per annum.

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