The Debt Management Office (DMO) has opened two Federal Government of Nigeria (FGN) savings bonds for subscription at an interest rate of 16.64 per cent and 17.64 per cent respectively.

The DMO, in a statement via its X handle, on Monday, said the first offer is a two-year FGN savings bond due on March 12, 2027, at an interest rate of 16.635 per cent.

The second offer is a three-year FGN savings bond due on March 12, 2028, at an interest rate of 17.635 per cent. The opening date for the offer was March 3, 2025, the closing date is March 7, 2025. The settlement date is March 12, 2025, while coupon settlement dates are June 12, September 12, December 12 and March 12.

“They are offered at N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million,” the DMO said, adding that interest is payable quarterly while bullet repayment (principal sum) is on the maturity date.

“They qualify as securities in which trustees can invest under the Trustee Investment Act,” it noted. The DMO added that the bonds are listed on the Nigerian Exchange Limited and qualify as liquid assets for liquidity ratio calculation for banks.

Just last week, the DMO announced that it raised the sum of N1.63 trillion from the February 2025 FGN bond auction. This is about N960.06 billion higher than the N669.94 billion it raised from the January 2025 bond auction. The government plans to borrow over N13 trillion this year to finance the 2025 budget signed last week.