The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria offers N300 billion 5-year and 9-year bonds for subscription.
FGN Savings Bond is backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria.
For May 2025, the DMO offers:
- N100,000,000,000.00 – 19.30% FGN APR 2029 (5-Yr Re-opening)*
- N200,000,000,000.00 – 19.89% FGN MAY 2033 (9-Yr Re-opening)*.
Key dates:
- Auction Date: May 26, 2025
- Settlement Date: May 28, 2025
Unit of sale: N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.
According to the circular, re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument.
The interests are payable semi-annually, with a bullet repayment of the principal on maturity date.
Bond Status:
- Qualifies as securities in which trustees can invest under the Trustee Investment Act.
- 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.
- Listed on the Nigerian Exchange Limited and FMDQ OTC Securities Exchange.
- All FGN Bonds qualify as liquid assets for liquidity ratio calculation for banks.
Interested investors should contact offices of any of the following Primary Dealer Market Makers (PDMMs): Access Bank Plc. Citibank Nigeria Ltd. Coronation Merchant Bank Ltd. Ecobank Nigeria Ltd. FBNQuest Merchant Bank Ltd, First Bank of Nigeria Ltd. First City Monument Bank Plc. FSDH Merchant Bank Ltd.
Rand Merchant Bank Nigeria Ltd. Guaranty Trust Bank Ltd, Stanbic IBTC Bank Ltd. Standard Chartered Bank Nigeria Ltd. United Bank for Africa Plc, Zenith Bank Plc.
