The Federal Government through the Debt Management Office has opened offers for the April 2024 Savings Bond, with rates reaching as high as 18.046% per annum.
According to the announcement made by the DMO, the 2-year FGN Savings Bond will be issued at 17.046% per annum, while the 3-year FGN Savings Bond will be issued at 18.046% per annum.
In March 2024, the DMO raised about N2.9 billion worth of Savings Bonds at a rate of 15.097% and 16.097% for the 2-year and 3-year bonds respectively.
In February 2024, N2.43 billion worth of Savings bonds were issued at 12.751% and 13.751% for the 2-year and 3-year bonds respectively.
The decision to issue Savings Bonds at a rate of 18.046% mirrors the strategic direction pursued by both the Debt Management Office (DMO) and the Central Bank of Nigeria (CBN) in 2024, aimed at addressing burgeoning inflation.