Nigeria DMO Opens ₦900 Billion FGN Bond Auction for January 2026
Published: January 21, 2026
The Debt Management Office (DMO), acting on behalf of the Federal Government of Nigeria (FGN), has officially announced its bond offer for January 2026. This month, the government is seeking to raise a total of ₦900 billion through three strategic re-opening tranches.
Offer Summary
Investors have the opportunity to participate in three different tenors, catering to varying long-term financial goals:
The first bond offer is a 7-Year tenor maturing in February 2031. It features an interest rate (coupon) of 18.50%, with a total amount offered of ₦300,000,000,000.
The second option is a 10-Year bond maturing in February 2034. This bond carries an interest rate of 19.00%, and the amount offered for this period is ₦400,000,000,000.
The third offer is also a 10-Year bond, but with a later maturity date of January 2035. It offers the highest interest rate of the group at 22.60%, with a total amount offered of ₦200,000,000,000.
Important Dates
- Auction Date: January 26, 2026
- Settlement Date: January 28, 2026
Key Investment Benefits
- Safety: Backed by the full faith and credit of the Federal Government of Nigeria.
- Tax Efficiency: Interest is exempt from Company Income Tax (CITA) and Personal Income Tax (PITA) for most investors, including Pension Funds.
- Liquidity: Listed on the Nigerian Exchange Limited (NGX) and FMDQ OTC, allowing for secondary market trading.
- Steady Income: Interest is paid semi-annually, with a final "bullet" repayment of the principal at maturity.
Subscription Requirements
This auction is primarily targeted at institutional and high-net-worth investors, featuring the following constraints:
- Unit Price: ₦1,000 per unit.
- Minimum Subscription: ₦50,001,000.
- Multiples: Additional investments in multiples of ₦1,000 thereafter.
How to Participate
To subscribe, interested investors must contact an authorized Primary Dealer Market Maker (PDMM). Participating banks include:
- Access Bank Plc.
- First Bank of Nigeria Ltd.
- Guaranty Trust Bank Ltd.
- Zenith Bank Plc.
- United Bank for Africa (UBA) Plc.
- Standard Chartered Bank Nigeria Ltd.
- (And other listed PDMMs as per the DMO Circular)
For more detailed information, consult with your financial advisor or reach out to any of the authorized PDMMs listed above.
* The DMO reserves the right to allot the FGN Bonds at its discretion. All FGN Bonds qualify as liquid assets for liquidity ratio calculations for banks.
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