The Federal Government of Nigeria has announced the launch of new 2-year and 3-year Savings Bonds, offering attractive interest rates to investors seeking secure investment opportunities.

The Debt Management Office (DMO) Nigeria, a government agency established to centrally coordinate the management of Nigeria’s debt, disclosed this in a statement.

DMO said the bonds would be available for subscription until February 9th, 2024, offering yields of 12.751 per cent for the 2-year bond and 13.751 per cent for the 3-year bond, paid quarterly. This represents a competitive option in the current market environment.

It also stated that 1,000 per unit requires a minimum subscription of 5,000 naira and a maximum subscription of 50,000 naira in subsequent multiples of 1,000, noting that interest payments are made quarterly, and the principal is repaid in full at maturity.

The agency added that the investment qualifies under the Trustee Investment Act as securities in which trustees can invest and it is recognised as government securities.

It is also listed on the Nigerian Exchange Limited, adding that it qualifies as a liquid asset for liquidity ratio calculation for banks.

The government agency added that interested investors should contact the stocking firms appointed as distribution agencies by the debt management.