The Debt Management Office (DMO) has announced the allocation of ₦3.05 billion for the September 2025 FGN Savings Bonds, split across two-year and three-year tenors. The bonds, issued at ₦1,000 per unit, had a minimum subscription requirement of ₦5,000 and allowed investments up to ₦50 million. This initiative is part of the FGN Savings Bond programme, which was introduced in 2017 to deepen the domestic bond market, promote financial inclusion, and provide retail investors with access to secure government securities.
The subscription period for the bonds took place from September 1, 2025, to September 5, 2025. According to the DMO, the two-year FGN Savings Bond, due to mature in September 2027, was allotted at an interest rate of 15.541% per annum, raising ₦631.762 million from 793 successful subscriptions. The three-year FGN Savings Bond, due to mature in September 2028, attracted greater demand, with an allotment of ₦2.416 billion at an interest rate of 16.541% per annum from 1,246 successful investors.
The settlement for the bonds was scheduled for September 10, 2025, with quarterly interest payments to be made directly to investors on March 10, June 10, September 10, and December 10 each year. The FGN Savings Bond is recognized as an approved investment under the Trustee Investment Act and qualifies as a government security under the Company Income Tax Act and the Personal Income Tax Act, making it eligible for tax exemption by pension funds and other qualified institutional investors.
Compared to the previous month, the September 2025 allotment is lower than the ₦3.3 billion recorded in August. The DMO also noted that the government raised significant funds from both the 2-year and 3-year bonds in the previous month, with a total of 2,166 successful investors participating in the subscription. The demand for these bonds indicates a growing interest in secure government securities among retail investors. The FGN Savings Bond programme continues to play a crucial role in promoting financial inclusion and deepening the domestic bond market in Nigeria.