The Debt Administration Workplace, DMO, has introduced the subscription course of for two-year and three-year Federal Authorities of Nigeria bonds for March 2024 with an annual rate of interest of as much as 16.097 per cent.
DMO disclosed this lately on its official web site, noting that the subscription interval is about to final for 5 days, working from March 4 to March 8, 2024.
An additional evaluation confirmed that the two-year Federal Authorities of Nigeria (FGN) financial savings bond, maturing on March 13, 2026, carries an annual rate of interest of 15.097 per cent.
The three-year Federal Authorities of Nigeria (FGN) financial savings bond is about to mature on March 13, 2027.
It said that Bond will open on March 4 and shut on March 8, with the settlement date on March 13. Curiosity funds are scheduled for June 13, September 13, December 13, and March 13 annually.
“Below the Debt Administration Workplace (Institution) Act 2003 and the Native Loans (Registered Inventory and Securities) Act, CAP. L17, LFN 2004 DEBT MANAGEMENT OFFICE on behalf of the FEDERAL GOVERNMENT OF NIGERIA Provides for Subscription and is allowed to obtain functions for the Federal Authorities of Nigeria saving bonds,” it stated.
The DMO outlined the subscription models as “N1,000 per unit, topic to a minimal subscription of N5,000, and subsequent multiples of N1,000, with a most subscription restrict of N50,000,000.”
