FG Savings Bond Offer Opens With Lowest Yields Since March 2024

The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), has opened the sale of its savings bonds to retail investors with a lower yield than the auctions in the last four months.

The offer opened on Monday July 1 closes on July 5 and the settlement date is July 10, 2024.

The government is selling two-year savings bonds at a rate of 16.67 percent per year, lower than the 17.41 percent rate it got in June 2024.

The three-year bond is selling at 17.67%, also lower than the 18.41% it sold for in June 2024.

These are the lowest yields offered on FGN Savings Bonds since March 2024.

Also Read: FG Lists N4.214 Billion April Savings Bonds on NGX

Interest payments will be paid quarterly with coupon payment dates of October 10, January 10, April 10 and July 10.

The 2-year savings bond would be due on July 10, 2026, while the 3-year savings bond would be due on July 10, 2027.

In March 2024, the government sold a two-year savings bond at 17.04% per annum, which is 2.17% higher than the yields offered this month.

The three-year March 2024 bond was also sold at 18.04 percent, 2 percent higher than the July 2024 offer.

According to the Debt Management Office (DMO), the minimum amount that can be invested in savings bonds is N5,000, while a maximum of N50 million can be invested.

The Debt Management Office also noted that interested investors should contact brokerage firms designated by the DMO.