FG to Raise N1 Trillion in September Bond Auction

The Federal Government of Nigeria is set to raise N1 trillion in its September 2026 bond auction, as announced by the Debt Management Office (DMO). The auction will feature N400 billion of a new 10-year FGN bond due September 2036 and N600 billion of the re-opened 15.45% FGN bond due June 2038.

The auction is scheduled for September 14, 2026, with settlement on September 16. The bonds are priced at N1,000 per unit, requiring a minimum subscription of N50.001 million, with additional subscriptions in multiples of N1,000.

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

Interest payments are semi-annual, with full principal repayment at maturity. The auction follows a strong demand in the DMO's August auction, where bids reached N1.73 trillion against an offer of N1.1 trillion.

This auction is part of the DMO's Q3 2026 bond program.