FG Savings Bonds Offer Opens with Lowest Returns Since March 2024.
The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), has opened the sale of its Savings Bond to retail investors, offering lower returns than the previous four months. The offer, which began on July 1 and closes on July 5, has a settlement date of July 10, 2024.
The two-year savings bond is offered at 16.67 percent per annum, down from 17.41 percent in June 2024, while the three-year bond is offered at 17.67 percent, down from 18.41 percent in June 2024. These are the lowest returns since March 2024.
In March 2024, the two-year bond was sold at 17.04 percent, and the three-year bond at 18.04 percent, both higher than the current offerings by 2.17 percent and 2 percent, respectively.
Interest payments on these bonds will be made quarterly on October 10, January 10, April 10, and July 10. The two-year bond will mature on July 10, 2026, and the three-year bond on July 10, 2027.
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