The Federal Government, through the Debt Management Office, has announced new rates for the September 2025 Federal Government of Nigeria Savings Bonds, with yields reaching as high as 16.541 per cent.
In a circular published on Monday, the DMO stated that the subscription window is now open and will close on Friday, September 5, 2025. Settlement has been scheduled for Tuesday, September 10, 2025. Coupon payments, according to the notice, will be made quarterly on March 10, June 10, September 10, and December 10, and will be credited directly to investors.
The bonds are available in two categories. The first is a two-year bond that matures on September 10, 2027, with an annual interest rate of 15.541 per cent. The second is a three-year bond that will mature on September 10, 2028, and offers investors a higher annual interest rate of 16.541 per cent.
The circular noted that both rates reflect an upward adjustment compared to the previous month. The two-year bond interest rate increased to 15.541 per cent in September from 14.401 per cent in August. Similarly, the three-year bond rose to 16.541 per cent in September, compared to 15.401 per cent in August.
The FGN Savings Bond programme, introduced in 2017, is designed to expand the domestic bond market, encourage financial inclusion, and provide retail investors with safe and low-risk government securities. Each unit of the bond is priced at ₦1,000, with a minimum subscription of ₦5,000 and additional investments accepted in multiples of ₦1,000. Individual investors are allowed to subscribe up to ₦50 million.
According to the DMO, the FGN Savings Bond “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 and Personal Income Tax Act for tax exemption for pension funds, amongst other investors.”
The circular also highlighted that the bonds are “listed on The Nigerian Exchange Limited and qualify as a liquid asset for liquidity ratio calculation for banks.”
The office assured investors that the bond is “backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.”