The Debt Management Office has thrown open its October 2026 Federal Government of Nigeria Savings Bond offer, with the three-year instrument paying an interest rate of 14.071 per cent per annum.
The DMO disclosed this in a circular issued on Monday.
The rate is lower than the 15.12 per cent offered on the same tenor in September, reflecting changes in the domestic interest-rate environment.
The October offer is made up of two-year and three-year bonds, and subscriptions will close on October 9, 2026.
For October, the DMO is offering a two-year FGN Savings Bond due on October 14, 2028, at 13.071 per cent per annum, and a three-year bond due on October 14, 2029, at 14.071 per cent per annum.
The offer opened on October 5, 2026, and will close on October 9.
Settlement is scheduled for October 14, 2026.
Interest will be paid quarterly, on January 14, April 14, July 14 and October 14.
The bonds are backed by the full faith and credit of the Federal Government of Nigeria.
The October offer gives investors the option of locking in fixed quarterly returns, with the longer-dated bond carrying a 1 percentage-point premium over the two-year instrument.
The FGN Savings Bond is structured as a retail investment product, with each unit priced at ₦1,000. Investors can subscribe from ₦5,000 and add to their holdings in multiples of ₦1,000, subject to a maximum subscription of ₦50 million.
The bonds will be redeemed through a bullet repayment at maturity.
They qualify as government securities under relevant tax laws and as eligible investments for trustees under the Trustee Investment Act.
The securities can also be recognised as liquid assets for banks’ liquidity ratio calculations.
The bonds are listed on the Nigerian Exchange Limited, while subscriptions are made through stockbroking firms appointed by the DMO as distribution agents.
The structure allows individual investors to take part in the domestic government securities market through a relatively accessible Federal Government-backed instrument.
Savings bond allotments rise in 2026
The October offer comes amid stronger FGN Savings Bond allotments in 2026, with total allotments rising over the first nine months of the year.
FGN Savings Bond allotments reached ₦47.25 billion between January and September 2026.
This was ₦11.02 billion higher than the ₦36.23 billion allotted in the corresponding period of 2025.
The increase points to stronger participation in the retail government securities market despite changes in the yields offered during the year.
The October issue therefore offers investors another opportunity to access quarterly fixed-income returns through a Federal Government-backed security, with the three-year bond carrying the higher coupon of the two available tenors.
The agency earlier unveiled a plan of about ₦4 trillion in FGN Bond auctions for the third quarter (Q3) of 2026.
Offer ranges widened significantly at this auction, with ₦600 billion to ₦800 billion available on both instruments.
