Nigeria’s Debt Management Office (DMO) has opened subscriptions for its August 2026 Federal Government of Nigeria (FGN) Savings Bond, offering retail investors an annual return of 14.96%.
The issuance represents a slight pullback from the previous month’s offering, which carried a yield of 15.72%.
72%, marking the highest yield for the instrument that year.
The August bond follows the Central Bank of Nigeria’s (CBN) first Treasury Bills auction for the month, where the central bank offered N700 billion in short-term debt.
The concurrent activity in both retail savings bonds and wholesale T-bills underscores the government’s ongoing efforts to manage liquidity and refinance maturing obligations.
The reduction in yield from the July peak suggests a modest normalization in the cost of retail funding.
In July, the DMO launched its savings bond at 15.72%, marking the highest yield for the instrument that year.