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DMO Opens Purchase for 2 Bonds

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CEM REPORT, MARKET | The Debt Management Office (DMO) has open purchase for two FGN savings bonds for March 2023.

The bonds which are a 2-year FGN savings bond due March 15, 2025, being offered at a coupon rate of 9.465 per annum, and a 3-year FGN savings bond due March 15, 2026, offered at a coupon rate of 10.465 per cent per annum will close on Friday, March 10.

According to a notice by the DMO in a settlement, date for the tax-free papers is Wednesday, March 15, 2023, while the coupon payment dates are June 15, September 15, December 15, and March 15.

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The bonds can be purchased through any of the licensed brokerage companies in the country for a minimum subscription of N5,000, and maximum subscription of N50 million.

[READ ALSO] FG N2.13 Trillion Domestic Borrowing is Partly to Refinance Maturing Obligations – DMO

The FGN savings bond is a debt instrument issued by the Nigerian government to raise funds.

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