The Debt Management Office (DMO) has announced a Federal Government of Nigeria bond offer for investors, with subscriptions scheduled to close through an auction on October 19, 2026.
According to the announcement, the bonds will be offered in three tranches, with different maturity dates and interest rates.
The first tranche comprises a N500bn reopening of the February 2034 bond, with a stated interest rate of 19 per cent.
The second tranche is an N800bn reopening of the September 2036 bond, carrying an interest rate of 16.79 per cent.
The third tranche consists of an N450bn reopening of the June 2038 bond, with an interest rate of 15.45 per cent.
The DMO said the auction would take place on October 19, 2026, while settlement is scheduled for October 21.
The bonds are offered at N1,000 per unit, with a minimum subscription of N50,001,000 and additional subscriptions in multiples of N1,000.
The office explained that for previously issued bonds being reopened, successful bidders would pay a price determined by the yield-to-maturity bid that clears the volume offered at auction, in addition to any accrued interest on the instruments.
Interest payments will be made twice a year, while the principal will be repaid in full on the respective maturity dates.
The bond offer provides investors with an opportunity to invest in Federal Government securities with specified coupon rates and maturity periods.
CREDIT: VANGUARD
