DMO Opens N700 Billion FGN Bond Auction at N1,000 Per Unit

The Debt Management Office has reopened three Federal Government of Nigeria bonds worth N700 billion for subscription at N1,000 per unit.

In a circular released on Wednesday, the DMO said the bond offer will open on April 27, while settlement is scheduled for April 29, 2026.

The offer includes N300 billion in a five-year bond maturing in August 2030 at 17.98 per cent. It also includes N100 billion in a seven-year bond maturing in June 2032 at 17.95 per cent, and N300 billion in a 10-year bond maturing in January 2035 at 22.60 per cent.

According to the DMO, the bonds are part of the government’s effort to finance budget needs and support public spending.

The agency said the unit price is N1,000, with a minimum subscription of N50,001,000 and additional purchases allowed in multiples of N1,000.

It explained that the bonds will be sold through an auction process. Successful investors will pay a price based on the yield to maturity bid that clears the total amount on offer, along with any accrued interest on the bond.

The DMO added that interest on the bonds will be paid every six months, while the full principal will be repaid on the maturity date.

It also said the bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged against the country’s general assets.

According to the agency, the securities qualify as government instruments under relevant tax laws and can be held by trustees, pension funds, and other institutional investors.

The bonds are also listed on Nigerian Exchange Limited and the FMDQ OTC Securities Exchange. In addition, they qualify as liquid assets for banks when calculating liquidity ratios.

The DMO advised interested investors to submit their applications through authorised Primary Dealer Market Makers before the auction date.