The Federal Government’s savings bond for September 2027 has garnered significant interest, attracting N2.75 billion in successful subscriptions at an attractive coupon rate of 18.20%. This successful offering was part of the subscription period that ran from September 2 to September 6, 2024.

According to the allotment results for the September 2024 savings bond, a total of 930 subscriptions were recorded for the three-year bond, which will mature on September 11, 2027. Investors in this bond can expect quarterly coupon payments on December 11, March 11, June 11, and September 11 until maturity.

In addition to the September 2027 bond, the government also offered a two-year FGN savings bond, set to mature in September 2026, which featured a coupon rate of 17.202%. This bond raised N843.58 million from 418 successful subscriptions during the same offer period.

The next settlement date for these bonds is scheduled for September 11, 2024, when the bonds will officially be issued to the successful subscribers.

In a previous offering in August, the Debt Management Office had introduced two Federal Government savings bonds priced at N1,000 per unit. One of these was a two-year FGN savings bond due on August 21, 2026, with a coupon rate of 17.373% per annum, demonstrating the government’s ongoing efforts to engage investors and enhance public savings.

With this latest subscription success, the Federal Government continues to provide investment opportunities that appeal to a wide range of investors, while also bolstering its funding strategies through the issuance of savings bonds.