DMO Launches July Bond Offer with 15.71% Return
The Debt Management Office (DMO) of Nigeria has announced the opening of a subscription window for a new bond offer, specifically the July 2026 Federal Government of Nigeria (FGN) savings bond, which offers a return of 15.716% per annum. This represents the highest interest rate for the retail bond program this year.
The subscription window will commence on July 6 and close on July 10, 2023, with settlement scheduled for July 15, 2023. The DMO is offering a two-year FGN savings bond due July 15, 2028, at 14.716% per annum and a three-year bond due July 15, 2029, at 15.716% per annum.
This new rate reflects a 94 basis point increase from the June 2026 offer. The minimum subscription is set at N5,000, with a maximum investment of N50 million.
Investors will receive quarterly interest payments, and the principal will be repaid in full at maturity. The DMO encourages retail participation in government securities to promote a savings culture among Nigerians.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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