The Federal Government, through the Debt Management Office (DMO), has raised a total of N3.96 billion from the October 2025 issuance of the Federal Government of Nigeria Savings Bonds (FGNSB).
According to the DMO’s official allotment results posted on its website, the government offered two tranches of savings bonds for the month of October — a two-year FGN Savings Bond due October 15, 2027, and a three-year FGN Savings Bond due October 15, 2028.
The two-year bond was allotted at an interest rate of 14.062% per annum, with a total subscription value of N779.047 million and 1,052 successful investors.
Meanwhile, the three-year bond attracted more interest, raising N3,185.695 million with 1,435 successful subscriptions at a coupon rate of 15.062% per annum.
The offer period for both instruments was held between October 6 and 10, 2025, with settlement taking place on October 15, 2025.
Coupon payments are scheduled to be made quarterly on January 15, April 15, July 15, and October 15 each year until maturity.
Higher subscriptions compared to September
The October 2025 allotment is higher than the N3.05 billion recorded in September.
According to the DMO, the two-year FGN Savings Bond due September 2027 was allotted at an interest rate of 15.541% per annum, raising N631.762 million from 793 successful subscriptions.
Meanwhile, the three-year FGN Savings Bond due September 2028 attracted greater demand, recording an allotment of N2.416 billion at an interest rate of 16.541% per annum from 1,246 successful investors.
What you should know
At its 302nd meeting in Abuja, the Central Bank of Nigeria (CBN) reduced the MPR by 50 basis points, bringing it down from 27.5% to 27%.
The bonds were issued at N1,000 per unit, with a minimum subscription requirement of N5,000 and in multiples of N1,000 thereafter, up to a maximum subscription of N50 million.
The FGN Savings Bond programme, introduced in 2017, was designed to deepen the domestic bond market, promote financial inclusion, and offer retail investors access to secure and low-risk government securities.
- The FGN Savings Bond qualifies as an approved investment under the Trustee Investment Act and is also recognised as a government security under both the Company Income Tax Act (CITA) and the Personal Income Tax Act (PITA). This makes it eligible for tax exemption by pension funds and other qualified institutional investors.
- Furthermore, the bonds are listed on the Nigerian Exchange Limited (NGX), providing investors with the option to trade them on the secondary market and enhancing overall liquidity. They also qualify as liquid assets for the purpose of computing banks’ liquidity ratios.
Over the years, FGN Savings Bonds have become increasingly popular among Nigerians looking for safe and predictable investment options.
