FG offers monthly Savings Bond at 13.535%, 14.535% for investors

The Federal Government has offered for subscription two-year and three-year Savings Bonds to investors at 13.535 per cent and 14.535 per cent, respectively from Monday, August 7 to Friday, August 11, 2017. A statement from the Debt Management Office (DMO) released on Sunday said the two-year bond will be due in August 2019, while the three-year bond has a maturity date of August 2020. According to the statement, “the offer has minimum subscription of N5,000 with increases thereafter in multiples of N1,000 up to a maximum subscription of N50 million.” According to the DMO, “the bond is backed by the full faith and credit of the Federal Government, with quarterly coupon payments to bondholders.” The DMO stated that the savings bond will help broaden the country’s funding base.