The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria, has opened its September 2026 Savings Bond offer, offering investors annual interest rates of up to 15.12%.
The DMO announced the offer in a circular on Monday.
According to the circular, the September offer comprises a two-year bond due on September 16, 2028.
The subscription opened on September 7, 2026, and will close on September 11, with settlement scheduled for September 16.
Interest will be paid quarterly on December 16, March 16, June 16 and September 16, while the principal will be repaid in full at maturity, according to the agency.
The September offer comprises a two-year bond due on September 16, 2028, with an annual interest rate of 14.12%, and a three-year bond due on September 16, 2029, offering 15.12% per annum
The FGNSB is targeted at retail investors seeking exposure to a government-backed investment instrument with quarterly interest payments and a defined maturity date.
The latest offer comes after the DMO raised N5.86 billion through the FGNSB in August 2026, down from the N6.19 billion raised in July, indicating softer investor demand during the month.
No new bond series appears on the calendar, suggesting DMO is consolidating liquidity around existing benchmarks with a clear preference for medium and long-dated instruments across the three months.
DMO issues FGN bonds primarily to fund the government’s huge budget deficits for 2026 and refinance maturing obligations.
The FGNSB also qualifies as an investment instrument for trustees under the Trustee Investment Act and as a liquid asset for banks’ liquidity ratio calculations. The bonds are listed on the Nigerian Exchange.
