The Debt Management Office (DMO) has announced the successful allotment of the September 2025 Federal Government of Nigeria (FGN) Savings Bonds, raising a total of ₦3.05 billion across its two-year and three-year tenors.
According to data released by the DMO over the weekend, the two-year FGN Savings Bond, due September 2027, attracted ₦631.76 million from 793 successful subscriptions, with a coupon rate of 15.541% per annum.
Meanwhile, the three-year bond, due September 2028, saw higher demand, with ₦2.416 billion raised from 1,246 investors, at a coupon rate of 16.541% per annum.
The bonds were offered to investors at ₦1,000 per unit, with a minimum subscription of ₦5,000 and in multiples of ₦1,000 thereafter, up to a maximum investment of ₦50 million per investor.
Settlement was scheduled for September 10, 2025, while coupon (interest) payments will be made quarterly—on March 10, June 10, September 10, and December 10—directly to investors’ designated accounts.
The savings bonds qualify as approved investments under the Trustee Investment Act and are recognized as government securities under both the Company Income Tax Act (CITA) and the Personal Income Tax Act (PITA). This makes them eligible for tax exemption by pension funds and other qualified institutional investors.
The total amount raised in September—₦3.05 billion—is slightly lower than the ₦3.3 billion raised in August 2025.
In August, the government secured ₦573.31 million from the two-year bond (maturing in August 2027) at a coupon rate of 14.401% and ₦2.74 billion from the three-year bond (maturing in August 2028) at a rate of 15.401%
The August issuance attracted 2,166 successful investors—892 for the two-year bond and 1,274 for the three-year bond.
With interest rates of 15.541% and 16.541% for the two-year and three-year tenors respectively, the September issuance reflects continued investor appetite for low-risk, high-yield government securities, especially amid current inflationary pressures.
