The Debt Management Office, DMO, has officially opened the FGN January Savings Bond subscription window with an interest rate of up to 18.24%.
The new bond subscription window offers private and institutional investors two different savings options; a two-year savings bond maturing on January 22, 2027, with an interest rate of 17.235%, and a three-year bond maturing on January 22, 2028, offering 18.235%.
Also, each bond unit is pegged at N1,000, with a minimum subscription requirement of N5,000 while you can increase the investment in multiples of N1,000 up to a maximum limit of N50 million.
The settlement date for successful subscription is January 22, 2025 with the first quarterly payment scheduled for April 22, 2025 while subsequent payments will follow on July 22 and October 22 respectively.
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The January savings bond has an interest rate of up to 18.24%, indicating a huge increase form the 12.03% rate recorded last year. It also reflects the CBN’s effort to tame inflation while wooing investors into government securities through high interest rates. The bank has so far hiked the interest rate 6 consecutive times, increasing the appetite of investors who are seeking competitive returns and higher yields on investment.
The Nigerian government has been able to raise about N211 billion in bond auction, a reflection of strong investors confidence despite the current economic uncertainty in the country.
