The Debt Management Office (DMO) has opened the subscription offer for May FGN savings bonds, priced at N1,000 per unit.
The two-year savings bond, due on May 15, 2026, is to be offered at an interest rate of 17.407 per cent per annum, while the three-year savings bond with a maturity date of May 15, 2027, features an interest rate of 18.407 per cent per annum.
The interest rates represent the highest ever offered by the DMO on FGN Savings Bonds.
According to the DMO, subscription for the bonds, which began on May 6, 2024, will continue until May 10, 2024.
It further noted that settlement is scheduled for May 15, 2024, with quarterly coupon payment dates set for August 15, November 15, February 15, and May 15.
