By Boluwatife Oshadiya | July 9, 2026
Key Points
- DMO has opened subscriptions for two Federal Government Savings Bonds maturing in 2028 and 2029
- Investors can earn annual interest rates of 14.716% and 15.716%, respectively
- Subscription closes July 10, while settlement is scheduled for July 15
Main Story
The Federal Government, through the Debt Management Office (DMO), has opened subscriptions for its July Federal Government of Nigeria (FGN) Savings Bonds, offering investors annual interest rates of up to 15.716 per cent.
According to a statement issued by the DMO, the offer comprises a two-year bond maturing July 15, 2028, with a coupon rate of 14.716 per cent, and a three-year bond maturing July 15, 2029, carrying a coupon rate of 15.716 per cent.
The offer opened this week and will close on July 10, while settlement is scheduled for July 15. Coupon payments will be made quarterly on October 15, January 15, April 15 and July 15 throughout the life of the bonds.
The bonds are priced at ₦1,000 per unit, with a minimum subscription of ₦5,000 and additional investments accepted in multiples of ₦1,000 up to a maximum subscription of ₦50 million.
“FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria and qualify as trustee investments as well as government securities under relevant tax laws,” the Debt Management Office said in the statement.
The DMO also noted that the instruments are listed on the Nigerian Exchange (NGX), making them eligible as liquid assets for banks’ liquidity ratio calculations.
Introduced to expand retail participation in government securities, FGN Savings Bonds enable individual investors to access sovereign debt instruments without the high capital requirements typically associated with conventional FGN bonds.
What’s Being Said
“Interest is payable quarterly, while the principal will be repaid in full on the maturity date,” the Debt Management Office said.
Independent market analysts have consistently described FGN Savings Bonds as one of the lowest-risk investment options available to retail investors because they are sovereign-backed while providing predictable quarterly income.
What’s Next
- Subscription for the July offer closes on July 10.
- Successful investors will receive allotments on July 15, the official settlement date.
- The DMO is expected to announce the next monthly FGN Savings Bond offer in August as part of its regular domestic borrowing programme.
The Bottom Line: With interest rates remaining elevated and inflation still influencing investment decisions, the July FGN Savings Bond offers retail investors an opportunity to lock in relatively attractive risk-free returns while supporting the Federal Government’s domestic borrowing programme.
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