WATCH THE VIDEO HERE The federal government is offering two new savings bonds with interest rates between 17 and 18 per cent through the Debt Management Office (DMO). In a statement by the agency, the country said retail investors can purchase the two-year bond maturing in January 2027 at 17.23 per cent interest, while the three-year paper maturing in January 2028 at a coupon rate of 18.23 per cent. Bonds are very safe financial instrument that serve as investments because they are backed by the federal government, which promises to pay back the money. According to the DMO, people can buy these bonds starting January 13, 2025, until January 17, 2025, with allotment expected on January 22, 2025, and the interest to be paid to investors every three months – in April, July, October, and January. These bonds have some special features. They are tax-free under both company and personal tax laws. Big investors like pension funds and trustees are allowed to buy them and each bond costs N1,000 each. However, interested investor can only buy at least N5,000 worth, and can’t buy more than N50 million. This comes after the Ms Patience Oniha-led debt office said the Nigerian government was offering three bonds worth N150 billion in September 2024.
FG Offers 18% Interest on Savings Bonds
