The Debt Management Office (DMO) has opened subscription for the October 2026 Federal Government of Nigeria (FGN) Savings Bond, offering annual interest rates of 13.071% and 14.071% on two-year and three-year instruments respectively.
The subscription opened on Monday, October 5, 2026, and will close on Friday, October 9, 2026, with settlement scheduled for Wednesday, October 14, 2026, according to the DMO.
The two-year bond will mature on October 14, 2028, while the three-year instrument will mature on October 14, 2029.
The October 2026 rates are lower than those offered in September 2026. The two-year bond rate fell from 14.12% in September 2026 to 13.071%, while the three-year rate dropped from 15.12% to 14.071%.
Interest will be paid quarterly on January 14, 2027, April 14, 2027, July 14, 2027, and October 14, 2027, while the principal will be repaid in a lump sum at maturity.
The FGN Savings Bond is priced at ₦1,000 per unit, with a minimum subscription of ₦5,000. Investors can subscribe in subsequent multiples of ₦1,000, subject to a maximum investment of ₦50 million.
The securities are backed by the full faith and credit of the Federal Government of Nigeria and qualify as government securities under relevant tax laws. They are also listed on the Nigerian Exchange Limited.
Investors can subscribe through stockbroking firms appointed by the DMO as distribution agents.
The October 2026 offer gives retail investors an opportunity to lock in fixed quarterly returns through Federal Government-backed securities, although at lower rates than the September 2026 offer.
