The Federal Government has offered bonds worth N1.75 trillion for subscription at an auction scheduled for October 19,2026.
The Debt Management Office (DMO) announced this in a circular issued on Tuesday, October 13.
The offer comprises three previously issued FGN bonds being reopened to investors.
The bonds comprise N500 billion of a 10-year bond at interest rate of 19 per cent per annum, and N800 billion of another 10-year bond at 16.79 per cent interest rate per annum.
The third offer is N450 billion of a 15-year bond at 15.45 per cent interest rate per annum.
The DMO fixed October 21 for the settlement of successful bids.
The DMO said the securities qualified as investments for trustees under the Trustee Investment Act and as government securities under the Company Income Tax Act and Personal Income Tax Act, subject to applicable provisions.
It noted that the bonds were listed on the Nigerian Exchange Limited and the FMDQ OTC Securities Exchange.
The DMO said: “All FGN bonds qualify as liquid assets for calculating banks’ liquidity ratios.
“Interest on the bonds will be paid semi-annually, while the principal will be repaid in a lump sum on the respective maturity dates.”
The DMO stated that for reopened bonds, whose coupon rates had already been established, successful bidders would pay prices corresponding to the accepted yield-to-maturity bids, together with accrued interest, where applicable.
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The DMO pegged the unit of sale at N1,000, with a minimum subscription of N50,001,000 and additional subscriptions in multiples of N1,000.
Interested investors were advised to contact any of the listed Primary Dealer Market Makers (PDMMs), including Access Bank, Citibank Nigeria Limited, First Bank of Nigeria Limited, United Bank for Africa, Zenith Bank, and Guaranty Trust Bank.
Other designated dealers include Stanbic IBTC Bank, FBNQuest Merchant Bank, Coronation Merchant Bank, Ecobank, First City Monument Bank, Standard Chartered Bank Nigeria Limited, FSDH Merchant Bank, and Rand Merchant Bankx
The DMO reserved the right to allot the bonds at its discretion.
The FGN bonds are fixed-income debt securities issued by the DMO on behalf of the federal government.
They allow investors to lend money to the government to finance infrastructure, public projects, and national budget deficits.
FGN bonds are considered risk-free debt instruments with zero default risk on principal and interest payouts.
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