For the month of November, the Nigerian Debt Management Office (DMO) on Monday opened the subscription offer for two federal government savings bonds.

One of these bonds is a two-year savings bond, maturing on November 13, 2026, at an interest rate of 17.440% per annum, while the other is a three-year savings bond, maturing on November 13, 2027, at an interest rate of 18.440% per annum. The latter is payable quarterly.

Both offers opened on Monday, November 4, 2024, and will close on October 11, 2024. The settlement date is November 8, 2024 and the coupon payment dates are November 13, 2024, February 13, 2024, May 13, 2024, and August 13, 2024, and November 13, 2025.

They are offered at 1,000 N per unit subject to a minimum subscription of 5,000 N and in multiples of 1,000 N. Subscription is subject to a maximum of N 50 million. Subscription is subject to a maximum of N 50 million.