Stories by Chima Nwokoji |Lagos
THERE are expectations that funding rates will rise this week as liquidity condition is expected to decline due to minute inflows from coupon payment (N17.9 billion) and Open Market Operation (OMO) maturity (N15.0 billion).
Meanwhile, interest in the secondary market is likely to be sustained according to dealers.
Similarly, the Debt Management Office (DMO), has announced the offer of two Federal Government of Nigeria (FGN) bonds for subscription.
The DMO stated this in a notice published on its website last week.
The first offer is a two-year FGN savings bond, which would be due on May 18, 2024, at an interest rate of 7.93 per cent per annum.
The second one is a three-year FGN savings bond, which would be due on May 18, 2025, at 8.93 per cent per annum.
According to the DMO, the opening date for the bonds is May 9, while the closing date and settlement date is May 18.
Coupon payment dates are August 18, November 18, February 18 and May 18.
“The bonds 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,” the DMO said.
IN CASE YOU MISSED THESE FROM NIGERIAN TRIBUNE
- ‘Officials initially offered to help but when the number of able-bodied citizens at the centre increased, they left us unattended to’
- Why Ogun Tops List Of ‘Yahoo Boys’ In Nigeria ― Governor Abiodun
- Police, Amotekun after criminals on Lagos-Ibadan expressway
- Suspected cannibal pays N500,000 for boy’s human organs, says ‘that’s my favourite meal, especially the throat’
- Court awards Nnamdi Kanu N1 billion over invasion of his home by military, asks FG to apologise