FGN Savings Bond for September Closes Today

By Dipo Olowookere

The sale of the FGN Savings Bonds for the month of September is ending on the noon of Friday, September 7, 2018.

The exercise started on Monday and the Debt Management Office (DMO), which is conducting the sale on behalf of the federal government, is offering two maturities.

According to the debt office, the 2-year paper is sold at 11.364 percent, while the 3-year bond is offered at 12.364 percent.

Savings Bonds will have most of the features of the existing FGN Bond plus other features/benefits to the bondholder.

It will also be backed by the full faith of the Federal Government of Nigeria and is therefore deemed risk free.