The Debt Management Office (DMO) is opening offer to sell a total N2.5 trillion FGN savings bonds to members of the public this month. The offers are split into N1.25 trillion at a 7-year tenure and N1.25 trillion for a 10year tenure.
This is according to a publication by the DMO. The subscription date is February 19, 2024 while the settlement date is 21st February 2024.
The maturity date for the 7year bond is February 2031 while that of the 10-year bond is February 2034.
According to the statement, the bonds are offered at a unit price of N1,000, with a minimum subscription requirement of N50,001,000 and subsequent increments in multiples of N1,000.
For this offer, the DMO stated that interest will be paid semi-annually, and successful bidders will get any accrued interest on the previously opened offer.
