Business
Federal Government Offers New Tax-Free Savings Bonds with Up to 18.23% Annual Returns
The Nigerian government, through the Debt Management Office (DMO), has introduced two new savings bond offers designed to attract individual and institutional investors while providing tax-free returns.
The first offer is a two-year bond with an annual interest rate of 17.23 percent, set to mature in January 2027.
The second is a three-year bond offering a slightly higher interest rate of 18.23 percent per year, with maturity in January 2028.
According to DMO’s notice, these bonds have unique advantages. Both are tax-free under Nigerian tax laws, meaning investors won’t pay personal or corporate taxes on the returns.
They are also open to large-scale investors, including pension funds and trustees, making them suitable for individuals and institutions alike.
The bonds are affordable, with each unit priced at N1,000. The minimum purchase is N5,000, while the maximum investment is capped at N50 million.
These savings bonds are backed by the Federal Government of Nigeria, which guarantees both the repayment of the principal and the interest.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
Nigeria’s three biggest cement manufacturers—Dangote Cement, BUA Cement, and HBM Nigeria—generated a combined ₦3.2 trillion in revenue during the first half of 2026.
The strong performance was driven by higher cement prices, increased demand from housing and infrastructure projects, and higher sales volumes across the country.
Compared to the same period in 2025, the companies recorded 26.5% revenue growth, showing that Nigeria’s construction sector continues to expand despite economic challenges. The companies also reported stronger profits and are investing further to increase production capacity to meet future demands.
Nigerian fintech company OPay has introduced new security features to improve the safety of its application.
The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.
The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.
The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.
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