January 09, (THEWILL) – The Debt Management Office (DMO) has unveiled the initial bond offering for 2024.
The offer comprises two Federal Government of Nigeria (FGN) savings bonds available for subscription according to a statement by the Agency on Monday.
The statement revealed that two-year FGN savings bond due on January 17, 2026, carries an interest rate of 11.033% per annum, while the three-year FGN savings bond due on January 17, 2027, has interest rate of 12.033% per annum.
According to the DMO, the opening date is scheduled for January 8, concluding on January 12, with settlement slated for January 17. Additionally, coupon payments are expected on April 17, July 17, October 17, and January 17.
In 2023, the Federal Government raised about N16.76 billion through FGN Savings Bonds, with the interest rates ranging between 9.6% and 13.287%.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
