FG Targets ₦1 Trillion in September Bond Auction

The Federal Government is targeting ₦1 trillion from investors through its September 2026 FGN bond auction, as announced by the Debt Management Office (DMO). The auction, scheduled for September 14, 2026, will feature ₦400 billion of a new 10-year FGN bond due in September 2036 and ₦600 billion of the 15.45 percent FGN June 2038 bond, which is being reopened.

The minimum subscription is set at ₦50.001 million, with bonds offered at ₦1,000 per unit. Investors can make additional subscriptions in multiples of ₦1,000.

The coupon for the reopened June 2038 bond remains fixed at 15.45 percent. Successful bidders will pay a price based on the yield-to-maturity bid that clears the volume offered, plus accrued interest.

Interest will be paid semi-annually, and the principal will be repaid at maturity. The bonds are backed by the full faith and credit of the Federal Government.

This auction follows strong demand at the DMO’s August bond auction, where bids totaled ₦1.73 trillion against an initial offer of ₦1.1 trillion.