Lagos — The Federal Government of Nigeria, through the Debt Management Office (DMO), has officially opened subscriptions for its April 2026 Savings Bond issuance, offering interest rates as high as 14.082% per annum.
According to a circular released by the DMO on Tuesday, the offer is part of the government’s monthly retail debt program aimed at encouraging a savings culture among Nigerians while providing a secure, high-yield investment window.
The April issuance features two tranches: a 2-Year FGN Savings Bond due April 15, 2028, with an interest rate of 13.082% per annum, and a 3-Year FGN Savings Bond due April 15, 2029, with a coupon rate of 14.082% per annum.
The offer period opened on Tuesday, April 7, and is scheduled to close on Friday, April 10, 2026. The settlement date is fixed for April 15, 2026, with quarterly interest payments thereafter.
Under the terms of the offer, the minimum subscription is pegged at ₦5,000, with subsequent multiples of ₦1,000, up to a maximum limit of ₦50,000,000. These bonds are backed by the full faith and credit of the Federal Government, making them a “risk-free” investment for retail participants.
Analysts note that the marginal increase in the 3-year rate—up from the 13.906% offered in March—aligns with current inflationary pressures and the Central Bank’s recent hawkish monetary stance to keep domestic yields attractive to investors.
The bonds are expected to be listed on the Nigerian Exchange Limited (NGX) following the settlement, allowing for liquidity through secondary market trading.
