The Federal Government of Nigeria has raised N6.69 billion through its September 2026 Savings Bond, offering investors annual interest rates of 14.12% for the two-year bond and 15.12% for the three-year instrument. The latest issuance highlights continued investor participation in government securities as the Federal Government taps the domestic market for funding.

According to the latest circular from the Debt Management Office (DMO), the government allotted N1.282 billion through the two-year September 2028 bond and N5.408 billion through the three-year September 2029 instrument. The offer, which ran from September 7 to 11, attracted 1,690 subscriptions for the two-year bond and 3,209 subscriptions for the three-year instrument, with settlement scheduled for September 16.

The three-year FG savings bond attracted the larger share of both subscriptions and funds raised, partly reflecting its higher annual return of 15.12%. Investors in both instruments will receive interest payments quarterly on December 16, March 16, June 16 and September 16. The two-year bond will mature on September 16, 2028, while the three-year instrument will mature on September 16, 2029.

September’s fundraising also pushed the Federal Government’s total proceeds from the FG Savings Bond to about N40.5 billion in the first nine months of 2026. The N6.69 billion raised in September represents the highest monthly amount recorded so far this year, surpassing N6.19 billion in July and N5.86 billion in August. Earlier monthly issuances raised N6.341 billion in January, N5.913 billion in February, N3.859 billion in March, N3.639 billion in April, N4.074 billion in May and N4.678 billion in June.

The FG Savings Bond remains one of the Federal Government’s channels for raising funds from domestic investors while giving retail investors access to government-backed securities. The bonds are sold at N1,000 per unit, with a minimum subscription of N5,000 and additional investments in multiples of N1,000, up to N50 million. With the September issuance delivering a higher return than the previous month’s offer, the latest figures provide another notable development for investors tracking Nigeria’s fixed-income and government securities market.

source: nairametrics