The Debt Management Office (DMO) has announced the offer of two Federal Government of Nigeria (FGN) bonds valued at a total of ₦200 billion for public subscription.
In a statement released on its official X (formerly Twitter) handle, the DMO said the bonds consist of a 5-year (re-opening) bond due August 2030 and a 7-year (re-opening) bond due June 2032, each worth ₦100 billion. Both instruments carry a coupon rate of 17.95 percent, payable semi-annually.
The bonds are offered at ₦1,000 per unit, with a minimum subscription requirement of ₦50,001,000 and subsequent bids in multiples of ₦1,000.
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The auction date has been set for September 29, 2025, while the settlement date is scheduled for October 2, 2025. Coupon payment dates will run on January 16, April 16, July 16, and October 16 of each year.
The DMO further explained that since the offer involves re-openings of previously issued bonds, successful bidders will be required to pay a price that corresponds to the yield-to-maturity of the clearing bid, in addition to any accrued interest.
According to the agency, the FGN bonds qualify as approved securities for trustees under the Trustee Investment Act, and are recognized as government securities under the Company Income Tax Act (CITA) and the Personal Income Tax Act (PITA), making them tax-exempt for pension funds and other investors.
The bonds are listed on the Nigerian Exchange Limited (NGX) and the FMDQ OTC Securities Exchange. They also qualify as liquid assets for banks’ liquidity ratio calculations.
The DMO emphasized that the offer, made on behalf of the Federal Government, is aimed at deepening the domestic bond market while providing secure investment opportunities for institutional and retail investors.
IMage Credit: Vanguard News
