The Debt Management Office (DMO) has announced plans to auction two Federal Government of Nigeria (FGN) bonds worth N200 billion on August 25, 2025.
In a notice issued on Friday, the DMO said the subscription price is fixed at N1,000 per unit, with a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter. The settlement date for successful bids is August 27, 2025.
The first offer is a new five-year bond, due to mature in August 2030, valued at N100 billion. The second is a re-opening of a seven-year bond maturing in June 2032, also valued at N100 billion, carrying an interest rate of 17.95 percent per annum, payable semi-annually.
“For re-openings of previously issued bonds where the coupon is already set, successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument,” the DMO explained.
The agency added that both offers qualify as government securities under the Company Income Tax Act (CITA) and Personal Income Tax Act (PITA), granting tax exemption for pension funds and other investors.
According to the statement, the bonds are listed on the Nigerian Exchange Limited and FMDQ OTC Securities Exchange and qualify as liquid assets for banks’ liquidity ratio calculations.
“All FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria,” the DMO stated.
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