The Debt Management Office (DMO) has initiated the subscription process for two-year and three-year Federal Government of Nigeria bonds for October with an interest rate of up to 13.4%.
The subscription period is set to last for 5 days, running from November 6th to November 10th, 2023. The bonds will mature on November 15th, 2025, and November 15th, 2026, for the two-year and three-year bonds, respectively.
The interest rate for the two-year bonds stands at 12.464% per annum, while the three-year bonds offer an interest rate of 13.464% per annum.
Units of subscription are N1,000 per unit, subject to a minimum subscription of N5,000, and subsequent multiples of N1,000, with a maximum subscription limit of N50,000,000.
Interested investors are encouraged to contact stock brokerage firms listed as authorized agents by the Debt Management Office (DMO), and the bonds are traded on the NGX (Nigerian Exchange Group).
What does this mean for investors?
The higher returns on the Savings Bond are in line with the interest rate adjustment in West Africa's biggest economy. The Central Bank of Nigeria has raised interest rates three times this year to combat inflation.
This means that investors who are looking for a safe and secure way to save money with a competitive return should consider subscribing to the Savings Bond.
How to Invest in the Savings Bond
To invest in the Savings Bond, investors should contact a stock brokerage firm listed as an authorized agent by the Debt Management Office (DMO). Investors can also subscribe to the Bond online through the NGX website.
Benefits of investing in the Savings Bond
The Savings Bond offers several benefits to investors, including:
The Savings Bond is a good investment option for Nigerians who are looking for a safe and secure way to save money with a competitive return.
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