\n
The Debt Management Office has opened the sale of its savings bond to retail investors with the promise of a higher return than last month\u2019s auction as interest rate adjustments in West Africa\u2019s biggest economy gather pace.<\/p>\n
DMO disclosed this in a notice on Monday, noting that the minimum amount to be invested in the savings bond is N5,000, while a maximum of N50 million can be invested.<\/p>\n
The offer represents 139 basis points higher than the 11.07 per cent it went for in October, while the three-year bond will be sold at 13.46 per cent, also higher than the 12.07 per cent it sold for last month.<\/p>\n
The government fixed the closing date for November 10, while the settlement date is November 15, 2023.<\/p>\n
It added that interest will be paid quarterly with coupon payment dates of February 15, May 15, August 15, and November 15.<\/p>\n
DMO opens two-year bonds at 12.46% interest rate<\/p>\n<\/div>\n
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