In a circular published by the Debt Management Office (DMO), the DMO on behalf of the Federal Government of Nigeria is now offering for subscription the August 2017 Savings Bond from August 7, 2017 to August 16 2017 at the following interest rates:

2-Year FGN Savings Bond due August 16, 2019:  13.535% per annum

3-Year FGN Savings Bond due August 16, 2019:  14.535% per annum  

Settlement Date: August 16, 2017

Coupon Payment Date: November 16, February 16. May 16, August 16


ISSUER: Federal Government of Nigeria (“FGN”)

UNITS OF SALE: ₦1,000 per unit subject to a minimum Subscription of ₦5,000 and in multiples of ₦1,000 thereafter, subject to a maximum subscription of ₦50,000,000.

INTEREST PAYMENT: Payable Quarterly

REDEMPTION: Bullet repayment on the maturity date


  1. Qualifies as securities in which trustees can invest under the Trustee Investment Act.
  2. Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
  3. Listed on The Nigerian Stock Exchange.
  4. Qualifies as a liquid asset for liquidity ratio calculation for banks.

Here is a copy of the circular.

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