Nigeria’s Debt Management Office (DMO) has launched the April 2026 Federal Government of Nigeria (FGN) Savings Bond, offering retail investors annual returns of up to 14.082%, as the subscription window opened on Tuesday.
The offer features two bond tenors. The two-year bond, maturing on April 15, 2028, carries a rate of 13.082% per annum, while the three-year bond, due April 15, 2029, offers the higher return of 14.082% per annum.
The April rates represent a notable easing from earlier in the year. In February, the DMO offered two-year and three-year bonds at 14.356% and 15.356% per annum respectively, reflecting a gradual softening of yields across monthly issuances as Nigeria’s interest rate environment shifts.
The subscription window closes on April 10, 2026, with settlement scheduled for April 15. Interest payments will be disbursed quarterly on July 15, October 15, January 15, and April 15 each year until maturity.
Each unit is priced at 1,000 naira, with a minimum subscription of 5,000 naira and a maximum of 50 million naira per investor, with purchases allowed in multiples of 1,000 naira.
FGN Savings Bonds are backed by the full faith and credit of the Federal Government, making them effectively risk-free within the domestic market. The bonds are also listed on the Nigerian Exchange Limited (NGX), enabling secondary market trading for investors who may require liquidity before maturity. The instruments carry regulatory and tax advantages, broadening their appeal across investor categories.
The declining yield trend in recent months signals cautious optimism in Nigeria’s fixed-income market, even as retail investors continue to seek inflation-hedging alternatives to traditional savings products.
