The first bond issuance for 2023 has been announced by the Debt Management Office (DMO): two Federal Government of Nigeria (FGN) savings bonds. One is a two-year FGN savings bond with an interest rate of 9. 600% per year that is due on January 11, 2025, according to the release.
The other is a three-year FGN savings bond with an interest rate of 10.600% per year that is due on January 11, 2026. According to the DMO, FGN savings bonds met the requirements to be considered securities under the Trustee Investment Act.
They are eligible as liquid assets for the computation of banks’ liquidity ratios because they are listed on the Nigerian Stock Exchange Limited, it added. It stated that the bonds have the full faith and credit of the FGN and charged upon the general assets of the country.
