The Federal Government of Nigeria has raised N6.69 billion through its September 2026 Savings Bond, with annual interest rates set at 14.12% for the two-year bond and 15.12% for the three-year bond. This information was disclosed in a recent circular by the Debt Management Office (DMO).
The DMO allotted N1.282 billion to the two-year September 2028 bond and N5.408 billion to the three-year September 2029 instrument. The offer, which ran from September 7 to 11, attracted a total of 4,899 subscriptions, with settlement scheduled for September 16.
This latest issuance is notable as it represents the highest monthly amount raised since the beginning of the year, surpassing the N5.86 billion raised in August and N6.19 billion in July. Overall, the Federal Government has raised approximately N40.5 billion through the FGNSB in the first nine months of 2026.
The FGNSB aims to provide retail investors access to government securities while enabling the government to raise funds domestically. The three-year bond offers a higher return, incentivizing investors to commit their funds for a longer duration.
As part of its broader financial strategy, the Federal Government has increased its planned borrowing for 2026 to N29.20 trillion, reflecting an expansion in the proposed budget and fiscal deficit. The securities are backed by the full faith and credit of the Nigerian government and are designed to qualify as government securities under relevant tax laws.