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Nigeria offers retail savers yields above 15% as domestic borrowing deepens

Gridlock in Lagos, Nigeria. Photo by Dami Akinbode @ Unsplash
Gridlock in Lagos, Nigeria. Photo by Dami Akinbode @ Unsplash
  • Savings bonds pay up to 15.356% amid rising debt service costs
  • Abuja targets households to ease reliance on volatile funding

 

ABUJA, NIGERIA – Nigeria’s debt office has launched a new round of retail bond sales offering yields above 14% and 15%, as the government seeks to tap household savings and deepen domestic funding sources.

Nigeria’s Debt Management Office (DMO) said in an official notice on Monday that the latest Federal Government of Nigeria (FGN) Savings Bond offer features two tenors designed to attract small and conservative investors.

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