The Debt Management Office DMO, on behalf of the Federal Government, has opened subscription for two Federal Government of Nigeria savings bonds priced at N1,000 per unit. In a statement issued in Abuja today, the DMO said the first offer is a two-year bond maturing on October 14, 2028, with an annual interest rate of 13.071 per cent. The second is a three-year bond, which will mature on October 14, 2029, and carries an annual interest rate of 14.071 per cent. The subscription opened on October 5 and will close on October 9, while the settlement date is October 14. The DMO said interest on both bonds would be paid quarterly on January 14, April 14, July 14 and October 14. The bonds are available at N1,000 per unit, with a minimum subscription of N5,000 and additional investments in multiples of N1,000, subject to a maximum subscription of N50 million. The agency explained that FGN savings bonds, like other Federal Government securities, are backed by the full faith and credit of the Federal Government and charged upon the general assets of Nigeria. The bonds also qualify as securities in which trustees may invest under the Trustee Investment Act. Through the bonds, individuals can earn regular interest while providing funding to the Federal Government for national development.