The Debt Management Office (DMO) has released the allotment results for the November 2025 Savings Bond offer, confirming robust investor interest in both the 2-year and 3-year bond maturities.
This is contained in a circular published on DMO’s website on Wednesday.
DMO stated that the 13.565% Federal Government Savings Bond (FGNSB) maturing in November 2027 and the 14.565% FGNSB maturing in November 2028 were offered to investors from November 3rd to 7th, 2025, with settlement taking place on November 12th, 2025.
The 13.565% Federal Government Savings Bond maturing in November 2027, with a two-year tenor, saw a total allotment of N958.416 million distributed among 1,866 successful subscriptions.
Meanwhile, the 14.565% Savings Bond due in November 2028, which has a three-year tenor, recorded an allotment of N2.874 billion across 2,003 successful subscriptions. Combined, the total amount allotted in this bond issuance reached approximately N3.83 billion, reflecting a strong demand from investors for government securities in the current economic environment.
Both bonds will pay coupons quarterly on the 12th of February, May, August, and November, providing investors with regular income streams. The 2-year bond matures on November 12, 2027, while the 3-year bond matures on November 12, 2028.
Lower allotment compared to October
The November allotment is lower than the N3.96 billion from the October 2025 issuance of the FGNSB.
According to the DMO, 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 in October.
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.
What you should know
Savings Bonds are uniquely tailored to offer Nigerian retail investors an accessible and secure means to invest in government debt with competitive fixed interest rates. The 13.565% and 14.565% coupon rates for these bonds are especially attractive in the current low-interest environment, enabling investors to safeguard their capital while earning steady income.
The Federal Government of Nigeria (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.
I would like to know how to subscribe to federal government bonds, please guide.
Thanks.