FGN Lists N4.07bn Savings Bonds on NGX

The Federal Government of Nigeria (FGN) has listed a total of N4.07 billion worth of Savings Bonds on the Nigerian Exchange Limited (NGX), providing retail investors with additional opportunities to invest in government-backed securities while deepening participation in the domestic debt market.
According to a market bulletin issued by NGX and signed by Godstime Iwenekhai, Head of the Issuer Regulation Department, on Tuesday, the newly listed instruments comprise the May 2026 issuance of the FGN Savings Bond programme and were admitted to trading on the Exchange on June 2, 2026.
The listing comprises two bond tranches with tenors of two and three years, respectively. The first tranche, a two-year bond maturing on May 13, 2028, carries a coupon rate of 13.525 per cent. A total of N884.86 million was raised through the issuance, represented by 884,857 units and trading under the symbol FGS202814.
The second tranche, a three-year bond maturing on May 13, 2029, was issued at a coupon rate of 14.525 per cent. The bond attracted subscriptions amounting to N3.19 billion, represented by 3.19 million units and listed under the symbol FGS202915.
Together, the two instruments raised N4.07 billion, with the three-year tenor accounting for approximately 78 per cent of total subscriptions, reflecting stronger investor appetite for longer-dated securities offering higher yields.
Coupon payments on both bonds will be made quarterly on August 13, November 13, February 13 and May 13 throughout their respective lifespans.
The FGN Savings Bond programme, managed by the Debt Management Office (DMO), is designed to encourage retail participation in the government securities market by offering accessible investment opportunities backed by the full faith and credit of the Federal Government. The bonds are targeted at individual investors seeking stable returns and capital preservation while contributing to national development financing.
Market analysts note that the continued issuance and listing of savings bonds support the government’s efforts to broaden the domestic investor base and promote a savings culture among Nigerians. The programme also provides an alternative investment avenue amid fluctuating returns across other asset classes.
The admission of the bonds to trading on the NGX enables investors to buy and sell the securities in the secondary market, enhancing liquidity and providing greater flexibility for bondholders before maturity.