Nigeria’s Debt Management Office has opened its October 2026 Federal Government of Nigeria Savings Bond offer, giving investors a choice between two fixed-interest instruments.
Applications opened on 5 October and will close on Friday, 9 October, with settlement scheduled for 14 October 2026. The DMO’s official offer document confirms that the bonds are issued on behalf of the Federal Government of Nigeria. Debt Management Office Nigeria
Two-Year and Three-Year Bonds on Offer
According to the DMO’s official October offer document, the two-year FGN Savings Bond carries an interest rate of 13.071% per annum and matures on 14 October 2028.
The three-year bond pays 14.071% per annum and matures on 14 October 2029. Debt Management Office Nigeria
Interest is paid quarterly, with payments scheduled for 14 January, 14 April, 14 July and 14 October each year. At maturity, investors receive the principal amount they invested in addition to the interest payments earned during the life of the bond. Debt Management Office Nigeria
How Much Can Investors Subscribe?
Each bond unit costs ₦1,000.
The minimum subscription is ₦5,000, while additional investments must be made in multiples of ₦1,000. The maximum subscription allowed under the offer is ₦50 million. Debt Management Office Nigeria
For illustration, an investment of ₦100,000 in the two-year bond would generate ₦13,071 in interest over a full year at the stated annual rate, while the three-year bond would generate ₦14,071 over a full year.
Those are annual interest amounts. Because payments are made quarterly, the full annual return is divided across four instalments rather than paid every three months.
How Investors Can Apply
The DMO directs interested investors to stockbroking firms appointed as distribution agents for the FGN Savings Bond.
Its offer document states that investors should use DMO-approved distribution agents, with the agency maintaining a list of accredited firms on its website. Debt Management Office Nigeria
The bonds are also listed on the Nigerian Exchange Limited, meaning they can be traded after issuance. Debt Management Office Nigeria
An investor who chooses to sell before maturity should remember that the secondary-market price may differ from the amount originally invested.
Federal Government Backs the Bonds
The offer document says the bonds are backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of the country. Debt Management Office Nigeria
That backing relates to the government’s obligation to make scheduled interest and principal payments under the terms of the bond.
It does not mean an investor selling before maturity is guaranteed to receive exactly the original purchase amount on the secondary market.
What Happens Next
Subscriptions remain open until 9 October, after which settlement is scheduled for 14 October.
Investors considering the offer will need to decide between the shorter two-year instrument at 13.071% and the three-year option at 14.071%, while also considering their own liquidity needs and how long they are prepared to keep the investment.
