The Federal Government Savings Bond offer for October 2024 will begin, according to the Debt Management Office. There will be two bond series available, both with reasonable interest rates.

The DMO’s website published a bond circular on Monday, stating that the subscription window will remain open from October 7 to October 11, 2024.

The first series consists of two-year FGN savings bonds with an interest rate of 17.084% AAV and a maturity date of October 16, 2026.

The second bond is a three-year bond with a 180.84% annual yield that matures on October 16, 2027.

The bonds are appropriate for trustees and pension funds, according to the DMO, because they meet the requirements of the Trustee Investment Act as government securities.

“Qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds, among other investors,” the statement continued.

These savings bonds are regarded as a safe investment choice because they are backed by the full faith and credit of the FG.

For additional information, interested investors are urged to visit the DMO’s website or get in touch with licensed stockbroking firms for subscription details.

With an 18.20% coupon rate, N2.75 billion of successful subscriptions were made to the FG’s savings bond for September 2027.

Additionally, 418 successful subscriptions to the two-year bond, which is scheduled to mature in September 2026, raised N843.58 million at a 17.202 percent coupon rate during the same offer period.