FG raises N2.75bn via savings bond

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The Federal Government’s savings bond for September 2027 has attracted successful subscriptions worth N2.75 billion, with a coupon rate of 18.20 per cent.

The subscription period ran from September 2 to September 6, 2024. A total of 930 successful subscriptions were recorded for the three-year bond, maturing on September 11, 2027.

Additionally, a two-year Federal Government of Nigeria (FGN) savings bond set to mature in September 2026, offered a 17.202 per cent coupon rate, raising N843.58 million from 418 successful subscriptions.

Investors in these bonds will receive quarterly coupon payments, with the next settlement date scheduled for September 11, 2024.

In August, the Debt Management Office (DMO) offered two FGN savings bonds for subscription, including a two-year bond with a 17.373 per cent annual coupon rate, maturing on August 21, 2026.

(Punch)

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