The offer provides Nigerians with an opportunity to invest in government-backed securities through relatively small investment amounts, starting from N5,000.
According to the offer circular reported by Punch Newspapers, the subscription period opened on November 2 and will close on November 6, 2026.
The November offer features two investment options with different maturity periods and interest rates.
The three-year savings bond offers an annual interest rate of 14.25 per cent, while the two-year instrument provides an annual return of 13.25 per cent.
Both rates represent an increase of 0.179 percentage points compared with the corresponding bonds offered in October.
Details of the November savings bond
The DMO introduced the two investment options to provide individuals with different maturity preferences an opportunity to participate in the Federal Government’s domestic borrowing programme.
The three-year instrument will mature on November 11, 2029, while the two-year bond will mature on November 11, 2028.
Each bond unit is priced at N1,000.
Investors can subscribe with a minimum amount of N5,000 and increase their investments in multiples of N1,000.
The maximum subscription amount is N50 million.
The interest payments will be made quarterly, allowing investors to receive periodic returns throughout the investment period.
The scheduled payment dates are February 11, May 11, August 11 and November 11.
At maturity, investors are expected to receive their principal investment in full, subject to the terms of the bond.
How much can investors earn?
The annual interest rates provide investors with an opportunity to estimate their potential returns before subscribing.
For example, an investment of N100,000 in the three-year bond at 14.25 per cent would generate N14,250 in annual interest.
This translates to approximately N3,562.50 per quarterly payment before any applicable deductions.
An investment of N100,000 in the two-year bond at 13.25 per cent would generate N13,250 annually, equivalent to approximately N3,312.50 every quarter.
These calculations assume the stated annual rates and do not account for any applicable tax treatment or transaction charges.
Illustrative returns on N100,000 investment
| Investment option | Annual rate | Annual interest |
|---|---|---|
| Two-year bond | 13.25% | N13,250 |
| Three-year bond | 14.25% | N14,250 |
Government backing and investment security
The DMO stated that the savings bonds are backed by the full faith and credit of the Federal Government of Nigeria.
The securities are also listed on the Nigerian Exchange Limited, providing an avenue for investors to trade them through the applicable market arrangements.
The bonds qualify as eligible investments for trustees under the Trustee Investment Act and as government securities under applicable tax laws.
Banks can also include the securities as liquid assets when calculating their liquidity ratios.
However, investors should understand that government backing does not remove every investment risk. Inflation can reduce the purchasing power of interest earnings, while selling before maturity may expose investors to market price changes.
Growing interest in retail government securities
The latest offer comes amid increased participation in government savings bonds.
According to the reported figures, allotments of Federal Government Savings Bonds increased to N47.25 billion between January and September 2026, compared with N36.23 billion during the corresponding period of 2025.
This represents an increase of N11.02 billion.
The growth suggests stronger demand for retail government securities despite changes in interest rates and broader financial market conditions.
The savings bond programme provides individuals with access to government securities without requiring the large investment amounts often associated with some other financial instruments.
How Nigerians can subscribe
Interested investors can subscribe through stockbroking firms appointed by the DMO as distribution agents.
Investors are advised to confirm the subscription process, applicable charges and payment instructions with an authorised distribution agent before making payment.
The offer closes on November 6, 2026, according to the published offer details.
Implications for investors
The November savings bond offer provides an additional option for Nigerians seeking fixed-income investments and predictable interest payments.
However, investors should compare the available rates with inflation, other investment opportunities and their personal financial objectives.
Those who require access to their money before maturity should also consider the conditions and possible market risks associated with selling securities early.
For the government, the programme provides an avenue to mobilise domestic funds while expanding public participation in government securities.
The latest offer therefore reflects the DMO’s continued efforts to attract retail investors into the domestic debt market.
