DMO offers FGN 2yr, 3yr savings bonds for August

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DMO-debt management office

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By Elizabeth Adegbesan

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The Debt Management Office (DMO) has offered a 2 year and 3 year Federal Government of Nigeria, FGN, Savings Bonds for August 2026 subscription.

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The 2-year saving bond due on August 12, 2028, was offered at an interest rate of 13.96 percent per annum and the 3-year bond at 14.96 percent per annum is due on August12, 2029.

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The Office disclosed this yesterday in a circular announcing the offer adding that both instruments are issued at N1,000 per unit with a minimum subscription of N5,000.

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“Unit of sale: N1,000 per unit subject to a minimum Subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.”

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DMO noted that the opening date for the offer is August 3, 2026 while the closing date is August 7, 2026.

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The settlement date for the offer is slated for August 12, 2026 with coupon payments to be made November 12, February 12, May 12, and August 12.

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On the status of the FGN savings bonds, DMO explained: “ It qualifies as securities in which trustees can invest under the Trustee Investment Act.

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“Qualifies as Government securities within the meaning of Company Income Tax Act, (“CITA”) and Personal Income Tax Act, (“PITA”) for Tax Exemption for Pension, Funds, amongst other investors.
“ Listed on The Nigerian Stock Exchange. “Qualifies as a liquid asset for liquidity ratio calculation for banks.” The Office also noted that the instruments are backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.

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