Nigeria’s Debt Management Office (DMO) has opened subscriptions for the January 2026 Federal Government of Nigeria (FGN) Savings Bond, offering investors annual interest rates of up to 15.396 per cent on government-backed securities.
Details released by the DMO show that the latest offer is part of the Federal Government’s ongoing strategy to deepen the domestic debt market while promoting long-term savings through low-risk investment instruments. Okay News reports that the issuance targets mainly retail investors, while remaining accessible to institutional participants.
Under the January 2026 programme, two bond tenors are on offer. The first is a two-year FGN Savings Bond due to mature on January 21, 2028, carrying an interest rate of 14.396 per cent per annum. The second is a three-year bond maturing on January 21, 2029, with a higher yield of 15.396 per cent per annum.
The subscription window opened on January 12, 2026, and will close on January 16, 2026, while settlement is scheduled for January 21, 2026. Investors will receive coupon payments quarterly on April 21, July 21, October 21, and January 21 each year until maturity.
FGN Savings Bonds are fully backed by the full faith and credit of the Federal Government of Nigeria, positioning them among the safest fixed-income instruments in the domestic market. The bonds are priced at ₦1,000 per unit, with a minimum subscription of ₦5,000 and additional investments in multiples of ₦1,000, subject to a maximum subscription of ₦50 million per investor.
The bonds are listed on Nigerian Exchange Limited (NGX), giving holders the option of selling their investments in the secondary market before maturity if liquidity needs arise. In addition, interest income on the bonds is tax-exempt for eligible investors, including pension funds and trustees covered under the Trustee Investment Act.
Recent FGN Savings Bond issuances reflect Nigeria’s persistently high interest rate environment. Throughout 2025, government bond yields remained largely in the mid-to-high teens, driven by tight monetary policy and strong demand from investors seeking protection against inflation.
Compared to the December 2025 offer, the January 2026 bonds carry higher returns. In December, the two-year bond was priced at 13.565 per cent, while the three-year bond due in November 2028 offered 14.565 per cent per annum.
For investors focused on capital preservation and steady income, the January 2026 FGN Savings Bond provides a competitive alternative to traditional savings products that often struggle to keep pace with inflation.
 has opened subscriptions for the January 2026 Federal Government of Nigeria (FGN) Savings Bond, offering investors annual interest rates of up to 15.396 per cent on government-backed securities.){kind=link}