The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria has listed N260 billion worth of bonds for subscription in its October auction.
The Debt Management Office (DMO) announced that the auction, which opened on Monday, October 27, 2025, includes two reopenings of existing bonds.
According to the DMO, the offer comprises a N130bn 17.945 per cent Federal Government of Nigeria August 2030 bond (five-year reopening) and a N130bn 17.95 per cent FGN June 2032 bond (seven-year reopening).
The DMO noted that settlement for the auction will take place on October 29, 2025. Units of sale are pegged at N1,000 each, with a minimum subscription of N50,001,000 and subsequent increments in multiples of N1,000.
Interest on the instruments will be paid semi-annually, while principal repayment will occur in full upon maturity.
The DMO emphasized that the FGN Savings Bond programme, launched in 2017, aims to deepen the domestic bond market, promote financial inclusion, and give retail investors access to secure, low-risk government securities.
The agency highlighted that the bonds “qualify as securities in which trustees can invest under the Trustee Investment Act; qualify as Government securities within the meaning of the Company Income Tax Act (CITA) and Personal Income Tax Act (PITA) for Tax Exemption for Pension Funds, amongst other investors.”
The bonds are listed on both the Nigerian Exchange Limited and FMDQ OTC Securities Exchange, providing liquidity and transparency for secondary market trading. The DMO also noted that these instruments qualify as liquid assets for banks in meeting statutory liquidity ratio requirements.
It added that the bonds are “backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of the nation,” ensuring investor protection and confidence. Investors can participate through authorized primary dealers and market makers, including Access Bank, First Bank, Stanbic IBTC, Citibank, FCMB, and Standard Chartered Bank.
In the broader context, the DMO raised about N3.03 trillion from FGN savings bonds in the first eight months of 2025. Between January and August, approximately N2.13 trillion was offered across short-, medium-, and long-dated tenors, with investor subscriptions surging to N4.94 trillion, reflecting strong demand for long-term instruments.
