The Federal Government, through the Debt Management Office (DMO), has announced the launch of two new Savings Bonds.
According to a statement from the DMO, the first offering is a two-year bond with an annual interest rate of 17.23%, maturing in January 2027.
The second is a three-year bond with an annual interest rate of 18.23%, maturing in January 2028.
These bonds are considered highly secure investments as they are backed by the Federal Government, ensuring repayment.
The bonds will be available for purchase from January 13 to January 17, 2025, with the official start date set for January 22, 2025.
Investors will receive quarterly interest payments in April, July, October, and January.
Key features of these bonds include tax exemptions for both corporate and individual investors.
Additionally, institutional investors such as pension funds and trustees are eligible to participate.
The bonds are priced at ₦1,000 per unit, with a minimum investment of ₦5,000 and a maximum limit of ₦50 million.
Previously, the DMO announced in September that the government had offered three bonds worth ₦150 billion.