In a statement on Monday, in Abuja, the DMO said the first offer is a two-year FGN savings bond due on January 22, 2027, at an interest rate of 17.235 per cent per annum.
The second offer is a three-year FGN savings bond due on January 22, 2028, at an interest rate of 18.235 per cent per annum.
The DMO said: “The opening date for the offer is January 13, the closing date is January 17, and settlement is January 25, while coupon payment dates are April 22, July 22, October 22, and January 22.
“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. Interest payment is made quarterly while bullet repayment is on maturity.”
According to the debt office, the FGN bonds are backed by the full faith and credit of the federal government and charged upon the general assets of Nigeria.
It added: “They qualify as securities in which trustees can invest under the Trustee Investment Act. They also qualify as government securities within the meaning of the Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds, amongst other investors.”
It noted that the two bonds are listed on the Nigerian Exchange Limited and qualify as a liquid asset for liquidity ratio calculation for banks.