Debt Management Office (DMO), on behalf of the Federal Government, has opened four Federal Government of Nigeria bonds worth N2 trillion for subscription, with interest rates ranging from 17.945 per cent to 21 per cent.
Gatekeepers News reports that in an offer circular issued on Wednesday, the DMO announced that the bond auction would take place on November 16, 2026, while settlement is scheduled for November 18.
The offer comprises four previously issued government securities being reopened to investors, with maturity dates ranging from March 2028 to May 2033.
The breakdown shows that N700 billion has been allocated to the March 2028 bond, which carries an interest rate of 21 per cent, while N250 billion is set aside for the April 2029 bond at 19.39 per cent.
Another N750 billion is being offered through the August 2030 bond at 17.945 per cent, while the remaining N300 billion is allocated to the May 2033 bond at 19.89 per cent.
According to DMO, each bond unit is priced at N1,000, with a minimum subscription of N50.001 million and additional investments accepted in multiples of N1,000.
The debt office explained that interest payments would be made every six months, while the principal amount would be repaid in full on the respective maturity dates.
It added that since the securities are reopenings of existing bonds, their original coupon rates would remain unchanged. However, the actual prices paid by successful bidders would depend on the yield-to-maturity bids accepted at the auction, alongside any accrued interest.
DMO also stated that the bonds would be listed on the Nigerian Exchange Limited and FMDQ OTC Securities Exchange, allowing investors to trade them in the secondary market.
The securities are also eligible investments for trustees and qualify as liquid assets for banks when calculating their liquidity ratios.
Interested investors have been directed to submit their applications through the DMO’s appointed Primary Dealer Market Makers, which include selected commercial and merchant banks.
The November offer follows Federal Government’s October bond auction, where N1.75 trillion worth of securities was offered across three instruments.
