Tinubu’s Administration Presents: Earn 12% Interest Through Government Bonds, Complete Payment Due 2026
In a move to further propel the country’s economic growth and strengthen the savings culture, the Federal Government, under President Tinubu’s administration, extends an invitation to all Nigerians.
This initiative offers a tempting 12% interest rate on bonds with a definitive repayment deadline set for 2026.
Overview of the Bond Offering
The Nigerian Debt Management Office (DMO), representing the Federal Government, has put forth two special savings bonds for October 2023. As per the official announcement, the bond subscription period is set from October 03 to October 06, 2023.
Interest Rates and Duration:
- For the two-year bonds: 11.074% annual interest rate.
- For the three-year bonds: 12.074% annual interest rate.
Notably, bondholders can expect to receive their interest payouts on a quarterly basis. Key dates to mark are January 11, April 11, July 11, and October 11.
- Unit Price: N1,000 per unit.
- Minimum Subscription: N5,000.
- Additional units can be purchased in multiples of N1,000.
- Maximum Subscription Cap: N50,000,000.
What Exactly Are FGN Savings Bonds?
FGN Savings Bonds, or the Federal Government of Nigeria Savings Bonds, hold a dual purpose. On one hand, they aim to amplify the savings mindset amongst Nigerians. On the other, they grant citizens from all economic backgrounds the chance to partake in the nation’s growth and relish the attractive returns the capital market provides.
The bonds stand as a beacon of trust and assurance, being fully endorsed by the Federal Government of Nigeria. Every three months, bondholders will be rewarded with coupon payments, adding more incentive to invest.
If the concept of earning through bonds has sparked an interest, potential investors are directed to connect with their respective stockbrokers. For a comprehensive list of authorized distributors, one can always visit the official DMO website.
President Tinubu’s administration is not only focused on addressing the country’s immediate needs but also strives to provide Nigerians with rewarding avenues to save and grow their finances. Through these bonds, the government looks forward to creating a robust economic environment and fostering a culture where savings and investments go hand in hand.
Always remember: Your country’s growth and your personal financial growth can journey together. Seize this chance and invest in the future of Nigeria.
Frequently Asked Questions (FAQs)
1. What is the main purpose of the FGN Savings Bonds?
FGN Savings Bonds are designed to bolster the savings culture in Nigeria, allowing citizens from all economic backgrounds to participate in national development and enjoy capital market returns.
2. How much interest can I earn on these bonds?
- Two-year bonds: 11.074% annual interest rate.
- Three-year bonds: 12.074% annual interest rate.
3. When will I receive my interest payments?
Interest payouts occur quarterly on these specific dates: January 11, April 11, July 11, and October 11.
4. How much can I invest in the bonds?
The minimum investment is N5,000. Bonds are sold in units of N1,000, with the maximum investment capped at N50,000,000.
5. How long is the subscription window open for these bonds?
The bond subscription is available from October 03 to October 06, 2023.
6. Are these bonds secure?
Yes, FGN Savings Bonds are backed by the full faith and credit of the Federal Government of Nigeria.