The Debt Management Office announced the results of the Federal Government Savings Bonds auction for May 2025, allotting a total of N4.28 billion, according to data released on its website Friday.

The figure reflects a slight decline from the N4.34 billion allotted in April 2025.

The auction, conducted between May 5 and 9, 2025, offered two bond tenors: a 2-year bond maturing on May 14, 2027, and a 3-year bond maturing on May 14, 2028.

Both bonds, settling on May 14, 2025, will pay quarterly interest on August 14, November 14, February 14, and May 14 throughout their terms.

The 2-year bond, carrying a 16.173% interest rate, secured N840.43 million in allotments across 994 successful subscriptions.

The 3-year bond, with a 17.173% rate, attracted N3.45 billion from 1,537 subscriptions.

Issued at N1,000 per unit, the bonds required a minimum subscription of N5,000, with additional investments in N1,000 increments up to a N50 million cap.

Launched in 2017, the FGN Savings Bond program aims to deepen Nigeria’s domestic bond market, enhance financial inclusion, and provide retail investors with secure, low-risk government securities. The bonds are approved under the Trustee Investment Act and qualify as government securities under the Company Income Tax Act and Personal Income Tax Act, offering tax exemptions for pension funds and other eligible institutions.

Listed on the Nigerian Exchange Limited, the bonds are tradable on the secondary market, boosting liquidity.

They also count as liquid assets for banks’ liquidity ratio calculations, adding to their appeal for financial institutions.