The Debt Management Office has opened a ₦1 trillion Federal Government of Nigeria bond offer for subscription, with a minimum investment requirement of ₦50 million.

According to the DMO, the offer comprises two separate instruments: a new 10-year FGN bond valued at ₦400 billion and maturing in September 2036, and a ₦600 billion reopening of a 15-year FGN bond due in 2038.

The 15-year bond carries a coupon rate of 15.45 per cent per annum.

The offer opened on September 14, 2026, while settlement is scheduled for September 16.

The DMO said the bonds are being offered at ₦1,000 per unit, subject to a minimum subscription of ₦50 million and additional investments in multiples of ₦1,000 thereafter.

For the reopened bond, where the coupon rate has already been fixed, successful bidders will pay a price corresponding to the yield-to-maturity that clears the volume offered at auction, in addition to any accrued interest.

The DMO further stated that interest on the bonds would be paid semi-annually, while the principal would be repaid in full at maturity.

According to the office, the securities are backed by the full faith and credit of the Federal Government and are charged upon the general assets of Nigeria.

The bonds also qualify as investments for trustees under the Trustee Investment Act and as government securities under the Companies Income Tax Act and Personal Income Tax Act for applicable tax exemptions.

The DMO added that the securities are listed on the Nigerian Exchange Limited and the FMDQ OTC Securities Exchange and qualify as liquid assets for the purpose of calculating banks’ liquidity ratios.

FGN bonds are fixed-income debt instruments issued by the DMO on behalf of the Federal Government, allowing investors to lend to the government in return for periodic interest payments, with the proceeds typically used to finance public expenditure, including infrastructure and other government projects.

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