The Debt Management Office (DMO) has offered up its December Federal Government of Nigeria savings bond for subscription.
Cost of Bonds
The December savings bond costs N1,000 per unit subject to a minimum subscription of N5,000 and further multiples of N1,000 each subject to a maximum subscription of N50,000,000.
Interest Rates
The interest rates for the savings bond include a rate of 17.483% per annum for a bond with a maturity period of 2-year due in December 2026 and a rate of 18.483% per annum for a bond with a 3-year maturity period due in December 2027.
Duration of Offer
The offer for subscription is open from Monday December 2nd, 2024 to Friday December 6th, 2024 with its settlement date put at December 11th, 2024.
Status of The Bond
The bond on offer qualifies as securities which can be invested by Trustees under the Trustee investment act, it also qualifies as government securities under the threshold of the Company income tax and personal income tax for tax exemption.
The bond also qualifies as a liquid asset under the liquidity ratio calculation for banks.
