June 2023 FGN Savings Bond Subscription

The June 2023 Auction for the FGN Savings Bond opened on June 5th, 2023 and will close Friday June 9th, 2023. Please find details stated below.

FGN Savings Bond Subscription

Federal Government of Nigeria (FGN) Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates:

·        2-Year FGN Savings Bond due June 14, 2025: 10.301% per annum

·        3-Year FGN Savings Bond due June 14, 2026: 11.301% per annum

·        Opening Date: June 5, 2023

·        Closing Date: June 9, 2023

·        Settlement Date: June 14, 2023

·        Coupon Payment Dates: September 14, December 14, March 14, June 14


ISSUER: Federal Government of Nigeria (“FGN”)


N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.

INTEREST PAYMENT: Payable Quarterly

REDEMPTION: Bullet repayment on the maturity date


1. Qualifies as securities in which trustees can invest under the Trustee Investment Act.

2. Qualifies as Government securities within the meaning of Company Income Tax Act

(“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.

3. Listed on The Nigerian Exchange Limited.

4. Qualifies as a liquid asset for liquidity ratio calculation for banks.


Backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.

Interested investors should contact the stockbroking firms appointed as distribution agents by the debt management office. please visit www.dmo.gov.ng for the list of distribution agents.

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