The Federal Government of Nigeria, through the Debt Management Office, has announced the listing of N260 bn worth of bonds for subscription at its October auction.
The offer, which opened on Monday, October 27, 2025, comprises a “N130bn 17.945 per cent Federal Government of Nigeria August 2030 bond (five-year reopening) and a N130bn 17.95 per cent FGN June 2032 bond (seven-year reopening).”
The DMO, in a circular posted on its X handle on Monday, announced that the auction will be settled on October 29, 2025, with units of sale set at N1,000 per unit, subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.
It added that interest on the bonds would be payable semi-annually, while repayment would be made in full on the respective maturity dates.
The FGN Savings Bond programme, launched in 2017, aims to deepen the domestic bond market, promote financial inclusion, and give retail investors access to secure, low-risk government securities.
On the status of FGN Savings Bonds, DMO noted it “qualifies as securities in which trustees can invest under the Trustee Investment Act; Qualifies as Government securities within the meaning of the Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
Furthermore, it explained that the bonds are listed on the Nigerian Exchange Limited and FMDQ OTC Securities Exchange and qualify as liquid assets for banks in meeting their liquidity ratio requirements.
The Office emphasised that the bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of the nation.
It urged investors to contact the offices of any of the primary dealers, market makers, including Access Bank Plc. First Bank of Nigeria Ltd., Stanbic IBTC Bank Ltd., Citibank Nigeria Ltd. First City Monument Bank Plc., and Standard Chartered Bank Nigeria Ltd.
PUNCH Online reported last month that DMO raised approximately N3.03 trillion from FGN savings bonds in the first eight months of this year.
An analysis of the monthly FGN bond auction results between January and August 2025 indicated that the DMO offered about N2.13tn across short-, medium-, and long-dated bonds.
However, an appetite for long-dated bonds saw subscriptions hitting about N4.94tn in the period under review.