FG Woos Bond Investors With Higher Interest Rates Amid Moody’s Downgrade

The Debt Management Office (DMO) has increased the rates on FGN Savings Bond, a move to attract domestic investors who are now cautious of government securities.

Moody’s Investors Service on January 27, 2023, downgraded Nigeria’s sovereign debt rating to Caa1 from B3, making investors skeptical about debt issued by the Nigerian government.