Would you like to receive notifications on latest updates of the following headlines?

DMO Offers 2 Savings Bonds At N1,000 Per Unit

POSTED ON May 7, 2024 •   Business      BY Abiodun Saheed Omodara
Debt Management Office (DMO) l Credit:@DMONigeria l source: X

The Debt Management Office (DMO) announced on Monday, the listing of two Federal Government of Nigeria (FGN) savings bonds at a price of N1,000 per unit. 

In a statement, DMO said that the first offer is a two-year FGN savings bond, which will mature on May 15, 2026, with an annual interest rate of 17.407 percent. 

The second offer is a three-year FGN savings bond maturing on May 15, 2027, at an interest rate of 18.407 percent per annum. 

The subscription opens on May 6 and closes on May 10, with the settlement date set for May 15. Coupon payments will be made on Aug. 15, Nov. 15, Feb. 15, and May 15. 

The bonds are available at N1,000 per unit with a minimum subscription of N5,000 and in multiples of N1,000 thereafter, up to a maximum subscription of N50 million. Interest is payable quarterly, with the principal sum to be repaid on the maturity date. 

The DMO emphasized that FGN savings bonds, like other FGN securities, are backed by the full faith and credit of the Federal Government and charged upon the general assets of Nigeria. 

These bonds qualify as securities for trustees' investments under the Trustee Investment Act and as government securities for tax exemption for pension funds and other investors under the Company Income Tax Act and Personal Income Tax Act. 

They are listed on the Nigerian Exchange Limited and the FMDQ, and also qualify as liquid assets for liquidity ratio calculation for banks.

READ ALSO
Tinubu Signs Four Tax Reform Bills to Transform Nigeria's Fiscal Framework
BY Abiodun Saheed Omodara June 26, 2025 0

ABUJA, Nigeria - President Bola Tinubu has enacted four tax reform bills that focus on crucial aspec...

READ ALSO
Tinubu to Sign Four Tax Reform Bills into Law Thursday
BY Abiodun Saheed Omodara June 26, 2025 0

President Bola Tinubu is set to sign four pivotal tax reform bills designed to revamp Nigeria's fisc...

READ ALSO
Nigeria Takes Bold Step towards Energy Independence with Naira-Based Crude Sales Initiative
BY Abiodun Saheed Omodara June 25, 2025 0

The Nigeria Export Processing Zones Authority, alongside the Federal Government’s One-Stop-Sho...

READ ALSO
Nigeria's 2024 Budget Capital Extension Draws Criticism from Economists
BY Abiodun Saheed Omodara June 25, 2025 0

The Senate and House of Representatives have once again prolonged the implementation of the capital...

READ ALSO
IPMAN Links Rising Petrol Prices to Crude Oil Costs and Market Dynamics
BY Abiodun Saheed Omodara June 24, 2025 0

ABUJA, Nigeria (NAN) - The Public Relations Officer of the Independent Petroleum Marketers Associati...

READ ALSO
NGX Opens Week Bullish, Gains N279bn Amid Renewed Investor Confidence
BY Abiodun Saheed Omodara June 23, 2025 0

The Nigerian Exchange Limited (NGX) commenced the trading week on a bullish trajectory, adding N279...

READ ALSO
Oil Prices Surge Amid U.S. Airstrikes on Iran's Nuclear Sites
BY Abiodun Saheed Omodara June 23, 2025 0

Oil prices rose on Monday while the dollar gained strength following the U.S. airstrikes on Iran's n...

READ ALSO
POS Terminals Drive N223tn in Transactions Amid Shift From ATMs
BY Abiodun Saheed Omodara June 23, 2025 0

Point of Sale (POS) terminals processed transactions worth N223.27 trillion in 2024, marking a drama...

OUR CHANNELS:

Kebbi Vows to Tackle Informants Aiding Bandits
BY Abiodun Saheed Omodara June 27, 2025 0

KEBBI, Nigeria - Kebbi State Governor, Dr. Nasir Idris, has pledged to take action against informant...


PDP seeks Tinubu’s intervention in Osun Crisis
BY Abiodun Saheed Omodara June 26, 2025 0

The Osun State chapter of the Peoples Democratic Party has urged President Bola Tinubu to step in re...


24 Lawmakers Leave PDP for APC Amid Unresolved Internal Conflicts
BY Abiodun Saheed Omodara June 26, 2025 0

AKWA IBOM, Nigeria - Twenty-four out of the 26 members of the House of Assembly in Akwa Ibom State h...


Nigeria's 2024 Budget Capital Extension Draws Criticism from Economists
BY Abiodun Saheed Omodara June 26, 2025 0

The Senate and House of Representatives have once again prolonged the implementation of the capital...


Chelsea Advances to Last 16 of Club World Cup with 3-0 Win Over Esperance
BY Abiodun Saheed Omodara June 26, 2025 0

Liam Delap netted his first goal for Chelsea during a 3-0 victory over Tunisian champions Esperance...


IPOB Rejects Tinubu's Cattle Ranch Proposal as a Disguise for Land Grabbing
BY Abiodun Saheed Omodara June 26, 2025 0

ABUJA, Nigeria - The Indigenous People of Biafra (IPOB) has expressed its disapproval of President B...


Police Unveils New Strategies to Combat Gunmen and Restore Public Confidence
BY Abiodun Saheed Omodara June 26, 2025 0

ANAMBRA, Nigeria - In its continued efforts to boost security and regain public trust, the Anambra S...


Nigeria's Gemstone Potential: A Deep Dive into 10 Rare Minerals and Their Regions of Origin
BY Abiodun Saheed Omodara June 26, 2025 0

Nigeria is making waves with a revolutionary $400 million Foreign Direct Investment dedicated to cre...


IPMAN Links Rising Petrol Prices to Crude Oil Costs and Market Dynamics
BY Abiodun Saheed Omodara June 26, 2025 0

ABUJA, Nigeria (NAN) - The Public Relations Officer of the Independent Petroleum Marketers Associati...


EFCC Charges Businessman, Company with $75,000 Fraud
BY Abiodun Saheed Omodara June 26, 2025 0

A businessman, Peter Otomewu, along with his company, Pebeto Enerji Limited, was brought before the...


More Articles

Load more...

Menu