The Debt Management Office (DMO) has raised N5.86 billion through the Federal Government of Nigeria Savings Bond (FGNSB) in August 2026, representing a decline of about N330 million from the N6.19 billion raised in July.
The DMO disclosed this in its August 2026 FGNSB allotment result released on Thursday.
The August offer comprised two-year and three-year savings bonds with interest rates of 13.963% and 14.963%, respectively.
The subscription period ran from August 3 to 7, while settlement took place on August 12.
The 13.963% FGNSB, which is due in August 2028, recorded a total allotment of N1.318 billion from 1,295 subscriptions.
Meanwhile, the 14.963% FGNSB, due in August 2029, recorded an allotment of N4.545 billion from 2,882 subscriptions.
Both instruments will pay coupons quarterly on November 12, February 12, May 12 and August 12.
The two-year bond will mature on August 12, 2028, while the three-year instrument will mature on August 12, 2029.
The August result indicates weaker participation from retail investors compared with July, when the DMO raised N6.193 billion through two FGNSB instruments.
The July bonds carried higher interest rates of 14.716% for the two-year instrument and 15.716% for the three-year bond.
Despite the higher rates offered in July, the August issuance attracted less investment.
The latest figure also follows an increase in FGNSB proceeds recorded between May and July. In June, the Federal Government raised N4.678 billion through its savings bond programme, compared with N4.074 billion in May.
The FGNSB is issued by the Federal Government through the DMO and allows retail investors to invest in government-backed securities with fixed coupon payments and defined maturity dates.
FGN bonds remain the largest component of the Federal Government’s domestic debt stock. They stood at N63.45 trillion, representing 76.56% of total FGN domestic debt.
Nigerian Treasury Bills accounted for N16.57 trillion, or 19.99% of the domestic debt stock.
FGN Sukuk stood at N1.19 trillion, while FGN Savings Bonds accounted for N116.21 billion.
Promissory Notes amounted to N1.39 trillion, comprising N300.41 billion in naira-denominated promissory notes and N1.08 trillion in foreign currency-denominated promissory notes.
