The Debt Management Office (DMO) of the Federal Republic of Nigeria has announced two savings bond offerings to the general public.
The DMO’s first offer is a two-year bond with a 17.235 percent interest rate per annum to whoever is interested in buying them. The duration of the bond extends from January 2025 to January 2027.
The second offer from DMO is a three-year bond with an 18.235 percent interest per annum to bond buyers. The duration of the bond starts from January 2025 to January 2028.
The Debt Management Office also announced that the bond comes with special offerings to entice the public into buying it. One of the special features is that it is tax-free under both company and personal tax laws, and pension houses or investors are allowed to buy it too.
The opening date for both bond offers is January 13, 2025, and its closing date is January 17, 2025, while the settlement date is January 22, 2025.
A minimum of N5,000 is required to purchase the minimum quantity of the bond from the Debt Management Office. However, the maximum amount anyone can buy stands at N50,000,000.
According to the DMO, these bonds are safe for anyone looking to invest and get annual returns on their investment. The bonds are backed by the federal government.
For people who do not understand what the bonds are, think of them as lending money to the government for a specific period of time while you get paid your interest annually.
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