The Debt Management Office (DMO) has announced that it successfully allotted N3.83 billion in the November 2025 Federal Government Savings Bond (FGNSB), reflecting sustained investor confidence in government-backed securities.
According to details published on the DMO’s official website, the offer, which opened from November 3 to 7, 2025, included two maturities — a 13.565% two-year bond maturing in November 2027, and a 14.565% three-year bond maturing in November 2028. Both will settle on November 12, 2025.
The two-year bond recorded total allotments of N958.416 million across 1,866 successful subscriptions, while the three-year bond saw a stronger turnout with N2.874 billion allotted to 2,003 investors.
Together, both instruments brought total subscriptions to N3.83 billion, a figure slightly lower than the N3.96 billion raised in October 2025.
The DMO noted that the bonds will pay quarterly coupons on February 12, May 12, August 12, and November 12 each year, offering investors regular income streams until maturity.
In comparison, the October 2025 issuance attracted higher yields — 14.062% for the two-year bond and 15.062% for the three-year tenor — with a combined subscription value exceeding N3.9 billion.
The Federal Government Savings Bond scheme, introduced in 2017, provides Nigerian retail investors an accessible entry into government debt instruments. The bonds feature competitive fixed interest rates and qualify as approved investments under the Trustee Investment Act, the Company Income Tax Act (CITA), and the Personal Income Tax Act (PITA), making them exempt for pension funds and eligible institutions.
Listed on the Nigerian Exchange Limited (NGX), the Savings Bonds also qualify as liquid assets for computing banks’ liquidity ratios, reinforcing their role in deepening Nigeria’s domestic bond market and expanding financial inclusion.
