The Federal Government of Nigeria, through the Debt Management Office (DMO), has opened offers for subscription to Federal Government of Nigeria (FGN) savings bonds for September 2024. According to a statement by the DMO, the subscription period will last for five days, starting from September 2nd. The statement indicates that the two-year savings bonds, maturing on September 11, 2026, are offered at an interest rate of 17.202%, while the three-year savings bonds are available at 18.202%. Each unit of the bond is priced at N1,000, with a minimum subscription requirement of N5,000 and subsequent multiples of N1,000. The maximum allowable subscription is N50,000,000. Interest payments on FGN bonds are made quarterly (four times a year). The subscription period for these bonds commenced on September 2, 2024, and will remain open until September 6, 2024, according to an announcement by the DMO. Settlement is planned for September 11, 2024, with quarterly coupon payments scheduled for December 11, March 11, June 11, and September 11.
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