DMO opens N1tn FGN bond subscription, sets N50m minimum

The Debt Management Office (DMO) has launched a subscription for two Federal Government of Nigeria (FGN) bonds, with a minimum investment of N50 million per unit. The two bonds, valued at N1tn in total, are a new 10-year bond due in September 2036 and a 15-year bond reopening from 2038, with a coupon rate of 15.45% per annum. The bonds, which are fixed-income debt securities issued by the DMO on behalf of the FGN, enable investors to lend money to the government for financing public projects and infrastructure.

The DMO listed the bonds on the Nigerian Exchange Limited and FMDQ OTC Securities Exchange, making them liquid assets for liquidity ratio calculations for banks.

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