The Federal Government, through the Debt Management Office (DMO), is offering two new Savings Bonds for investment.
According to a statement from the DMO, the first bond is a two-year offering 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.
Bonds are considered safe investments, as they are backed by the Federal Government, which guarantees repayment.
The DMO announced that individuals can begin purchasing these bonds from January 13 to January 17, 2025. The bonds will officially commence on January 22, 2025, and interest payments will be made quarterly—on the 1st of April, July, October, and January.
Notably, these bonds come with special benefits: they are exempt from both corporate and personal taxes. They are also open to institutional investors, such as pension funds and trustees. Each bond is priced at N1,000, with a minimum purchase of N5,000 and a maximum limit of N50,000,000.
Previously, the DMO had announced the issuance of three bonds totaling N150 billion in September.
