The Debt Management Office raised N5.06bn through its November 2026 Federal Government of Nigeria Savings Bond offer, marking a 17.4 per cent decline from the N6.12bn allotted in October.
This was disclosed in the latest circular published on the DMO’s website on Thursday.
The November allotment consisted of N746.01m from the two-year bond and N4.31bn from the three-year instrument, according to the DMO’s allotment results.
The offer opened on November 2 and closed on November 6, with settlement taking place on November 11. The bonds attracted annual interest rates of 13.25 per cent for the two-year instrument and 14.25 per cent for the three-year bond.
The lower allotment was accompanied by a decline in subscription volumes across both bond instruments.
The two-year November 2028 bond attracted 968 subscriptions, with N746.01m allotted, while the three-year November 2029 instrument recorded 2,390 subscriptions, receiving N4.31bn in allotments.
In comparison, the two-year October 2028 bond attracted 1,261 subscriptions and secured N1.02bn, while the three-year October 2029 bond recorded 2,678 subscriptions, with N5.11bn allotted.
The November allotment was about N1.06bn lower than the N6.12bn recorded in October, reflecting a reduction in the funds allocated to investors through the Federal Government’s retail bond programme.
Despite the lower allotment, the DMO raised the interest rates on both savings bond tenors in its November offer.
As earlier reported by Nairametrics, the November 2026 FGN Savings Bond offer carried annual interest rates of 13.25 per cent for the two-year instrument and 14.25 per cent for the three-year bond.
The three-year rate increased from 14.071 per cent offered in October, while the two-year rate rose from 13.071 per cent to 13.25 per cent.
The two-year bond is scheduled to mature on November 11, 2028, while the three-year instrument will mature on November 11, 2029. Investors will receive interest payments quarterly on February 11, May 11, August 11 and November 11.
