The Debt Management Office has confirmed that the Federal Government raised a total of N3.3 billion through the August 2025 issuance of the FGN Savings Bonds. The subscription period ran from August 4 to August 8, 2025, with settlement fixed for August 13, 2025.
According to details released on the DMO website, the government secured N573.31 million from the 2-year savings bond, which will mature on August 13, 2027, while the 3-year savings bond attracted N2.74 billion and will mature on August 13, 2028.
“The 2-year FGN Savings Bond was allotted at a coupon rate of 14.401 percent, while the 3-year bond was priced at 15.401 percent,” the DMO stated. Both instruments include quarterly coupon payment dates of February 13, May 13, August 13, and November 13, beginning from November 2025.
The allotment data shows that a total of 2,166 investors successfully subscribed during the August exercise. Out of this number, 892 took positions in the 2-year option, while 1,274 invested in the 3-year bond.
Despite the positive turnout, the August subscription result fell short of the July 2025 allotment, when the DMO raised N4.27 billion. In July, the 2-year bond, due on July 16, 2027, carried a coupon of 15.762 percent, while the 3-year bond, maturing on July 16, 2028, offered 16.762 percent.
The July issue attracted a total of N853.822 million in the 2-year savings bond across 1,078 investors, while the 3-year savings bond accounted for N3.4 billion and had 1,591 successful subscriptions.
The DMO explained that the bonds are issued at N1,000 per unit, with a minimum entry requirement of N5,000. Subscriptions are allowed in multiples of N1,000, up to a maximum of N50 million.
Launched in 2017, the FGN Savings Bond programme is aimed at deepening the local debt market and promoting financial inclusion by giving retail investors the chance to participate in secure and low-risk government securities.
According to the debt office, “The FGN Savings Bond qualifies as an approved investment under the Trustee Investment Act and is recognised as a government security under both the Company Income Tax Act and the Personal Income Tax Act.” This makes it eligible for tax exemptions granted to pension funds and other approved investors.
The bonds are listed on the Nigerian Exchange Limited, where they can be traded in the secondary market. They also qualify as liquid assets for banks in meeting liquidity ratio requirements.