The Federal Government has raised N6.69 billion through its September 2026 Savings Bond, offering investors annual interest rates of 14.12% and 15.12% on two- and three-year instruments, respectively.
This is according to the latest circular issued by the Debt Management Office (DMO).
The DMO allotted N1.282 billion on the two-year September 2028 bond and N5.408 billion on the three-year September 2029 instrument.
The offer, which ran from September 7 to 11, 2026, attracted 1,690 subscriptions for the two-year bond and 3,209 subscriptions for the three-year instrument, with settlement scheduled for September 16.
The September issuance comprised two instruments, with the longer-tenor bond attracting the larger share of subscriptions and funds raised.
The September result marks an increase from the N5.86 billion raised through the savings bond in August, following N6.19 billion raised in July.
The September issuance brings the Federal Government’s total fundraising through the FGNSB to about N40.5 billion in the first nine months of 2026.
Fundraising through the instrument varied during the period, with the DMO raising N6.341 billion in January, N5.913 billion in February, N3.859 billion in March and N3.639 billion in April.
The cumulative figure reflects the total proceeds from the nine monthly issuances.
The FGNSB is designed to give retail investors access to government securities while providing the Federal Government with a channel to raise funds from domestic investors.
The September offer also maintained a higher return for investors who selected the longer-term instrument, with the three-year bond offering 15.12% compared with 14.12% for the two-year bond.
Nairametrics had earlier reported that the DMO’s August FGNSB offer carried an annual interest rate of up to 14.963%, lower than the rates offered under the latest September issuance.
The Federal Government increased its planned borrowing for 2026 to N29.20 trillion following an expansion in the proposed budget size and fiscal deficit.
The securities are backed by the full faith and credit of the Federal Government of Nigeria and qualify as government securities under relevant tax laws.
