Federal Government through the Debt Management Office ,DMO, has opened subscriptions for the February 2026 issuance of the FGN Savings Bond, offering investors returns of up to 15.356% per annum on the three-year tenor.
The offer was announced in a circular issued by the DMO, which detailed the bond’s maturity structure, interest rates, and subscription timeline.
The February issuance is part of the government’s ongoing efforts to deepen retail participation in the domestic debt market while providing individuals with a low-risk investment vehicle.
According to the DMO, the February offer features two maturity options. A two-year FGN Savings Bond, due on February 11, 2028, carries an interest rate of 14.356% per annum, while a three-year bond, maturing on February 11, 2029, offers a higher return of 15.356% per annum.
Subscriptions for the savings bonds opened on February 2, 2026, and will close on February 6, 2026, with settlement scheduled for February 11, 2026.
Interest on the bonds will be paid quarterly, with coupon payment dates set for May 11, August 11, November 11, and February 11 throughout the life of the instruments.
Under the offer terms, the bonds are priced at N1,000 per unit, with a minimum subscription requirement of ₦5,000, and additional investments accepted in multiples of N1,000. At maturity, investors will receive a bullet repayment of the principal in full.
The February issuance follows a similar offer conducted in January, underscoring the Federal Government’s continued reliance on savings bonds as a tool for mobilising domestic funds and broadening access to government securities among retail investors.
Data from the DMO indicate a slight moderation in yields compared with the January 2026 issuance, when savings bonds were offered at rates of up to 15.396 per cent per annum.
The marginal adjustment in February rates reflects evolving yield dynamics in the domestic fixed-income market amid changing liquidity conditions and interest rate expectations.
Despite the slight decline, analysts note that the February yields remain relatively elevated, sustaining the attractiveness of the FGN Savings Bond to individual investors seeking predictable income and capital preservation in a volatile economic environment.
The FGN Savings Bond programme was introduced to encourage a savings culture among Nigerians, provide affordable access to government securities, and diversify the government’s funding sources, while offering investors a secure investment backed by the full faith and credit of the Federal Government.
