The Debt Management Office (DMO) yesterday opened an offer for the Federal Government of Nigeria Savings Bond for March 2020 with yields lower than what is offered in February.

The offer circular released yesterday showed that it is offering the 2-year FGN Savings Bond due March 11, 2022, at 4.131 percent while the 3-Year FGN Savings Bond due March 11, 2023, is offered at 5.131 percent per annum.

Yields had been on the decline as well as interest in the bond designed low income and retail investors. Last month, the DMO had raised N656.577 million through the two bond offerings.

Coupon on the 2-year Savings Bond for February was 5.910 percent, while the 3-year bond was raised at 6.910 percent, higher than 4.131 and 5.131 per cents which it is offering for the 2- and 3- year papers in March.

Last month it had raised N295.02 million the two-year paper while it raised N361.557 million on the three-year paper. This was lower than what it raised from the two papers in January this year.

 It had raised N454.352 million from the 2-year bond which was offered at 7.144 percent. The 3-year savings bond in January was offered at 8.144 percent with 197 investors putting in N877.792 million.