DMO raises FGN Savings Bond rates to 13.25%, 14.25% for November

Debt Management Office (DMO) has opened its November 2026 Federal Government of Nigeria (FGN) Savings Bond offer, with the three-year instrument offering an interest rate of 14.25% per annum.

The subscriptions opened on Monday, Nov. 2, and will close on Friday, Nov. 6, 2026. The bond offering consists two-year and three-year bonds. The two-year bond is due on Nov. 11, 2028, at 13.25% per annum, while the three-year bond is due on Nov.11, 2029, at 14.25% per annum.

Interest rates applicable is 13.25 per cent per annum on the two-year bond and 14.25 per cent on the three-year bond. The principal is repaid in full at maturity. Both rates are 0.179 percentage points above the rates in October. The subscriptions are offered at N1, 000 per unit, while the minimum is N5, 000 and in multiples of N1, 000 up to N50 million.

The bonds are backed by the full faith and credit of the federal government. For November, the DMO is offering a two-year FGN Savings Bond due on November 11, 2028, at 13.25% per annum and a three-year bond due on November 11, 2029, at 14.25% per annum.

The offer opened on November 2, 2026, and will close on November 6. Settlement is scheduled for November 11, 2026. Interest will be paid quarterly on February 11, May 11, August 11 and November 11. Both rates are 0.179 percentage points higher than the corresponding rates offered in October.

The bonds are backed by the full faith and credit of the Federal Government of Nigeria, with the three-year instrument offering a higher annual return than the two-year bond. The FGN Savings Bond is structured as a retail investment product, with each unit priced at N1,000. Investors can subscribe from N5,000 and increase their holdings in multiples of N1,000, subject to a maximum subscription of N50 million.

The principal will be repaid in full at maturity. The bonds qualify as eligible investments for trustees under the Trustee Investment Act and as government securities under relevant tax laws. The securities can 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 access government-backed fixed-income securities with quarterly interest payments.