The Debt Management Office (DMO) has opened subscription for two Federal Government of Nigeria (FGN) bonds worth a combined N1 trillion, with a minimum subscription of N50 million.
The bonds are being offered at N1,000 per unit, with investors required to subscribe in multiples of N1,000 after the minimum threshold.
In a statement issued on Monday, the DMO said the first offer is a new 10-year FGN bond valued at N400 billion and scheduled to mature in September 2036.
The second offer is a N600 billion reopening of a 15-year FGN bond maturing in 2038, with a coupon rate of 15.45 per cent per annum.
The offer opened on September 14, 2026, while the settlement date is September 16, 2026.
“The FGN bonds are offered at N1,000 per unit subject to a minimum subscription of N50 million and in multiples of N1,000 thereafter,” the DMO said.
The debt office explained that for reopened bonds whose coupon rates have already been determined, successful bidders would pay a price corresponding to the yield-to-maturity bid at which the volume being auctioned clears, plus any accrued interest.
Interest on the bonds will be paid semi-annually, while the principal will be repaid in a lump sum at maturity.
The DMO said the securities are backed by the full faith and credit of the Federal Government and charged upon the general assets of Nigeria.
It added that the bonds qualify as investments for trustees under the Trustee Investment Act and as government securities under the Company Income Tax Act and Personal Income Tax Act for applicable tax exemptions.
The bonds are listed on the Nigerian Exchange Limited and FMDQ OTC Securities Exchange and qualify as liquid assets for banks when calculating their liquidity ratios.
FGN bonds are fixed-income debt instruments issued by the DMO on behalf of the Federal Government. They allow investors to lend funds to the government in exchange for periodic interest payments and repayment of the principal at maturity.
Funds raised through the issuance of FGN bonds are used to finance government expenditure, including infrastructure development and other public projects.
