📌 Quick answer: The FGN Savings Bond is a loan you give the Federal Government through the Debt Management Office (DMO). You can buy from ₦5,000 (then in ₦1,000 steps, up to ₦50 million) through a DMO-appointed stockbroker, and you are paid interest every three months. The November 2026 offer paid 13.25% a year on the 2-year bond and 14.25% on the 3-year bond. The next window opens Monday 7 December and closes Friday 11 December 2026; December’s rates are announced when it opens. You need a CSCS account, and your name must match exactly on your bank account, BVN and CSCS record.
If you have money sitting in a savings account earning very little, the FGN Savings Bond is one of the simplest ways to earn a fixed return backed by the Federal Government. The DMO opens a new offer once a month, usually in the first full week, and you can invest as little as ₦5,000. This guide uses the DMO’s own offer documents for 2026 and the November 2026 offer notice from Stanbic IBTC Stockbrokers, one of the DMO’s appointed distribution agents.
FGN Savings Bond rates in 2026
| Offer | 2-year bond | 3-year bond | Window |
|---|---|---|---|
| May 2026 | 13.525% | 14.525% | 4–8 May |
| August 2026 | 13.963% | 14.963% | 3–7 August |
| November 2026 | 13.25% | 14.25% | Closed 6 November |
| December 2026 | Announced when the window opens | 7–11 December | |
Rates change every month with the government’s borrowing costs, so the December rates may be higher or lower than November’s. Whatever rate applies in the month you buy is fixed for the whole life of your bond.
How the savings bond works
| Feature | Details |
|---|---|
| Issuer | Federal Government of Nigeria, through the DMO |
| Tenors | 2 years or 3 years |
| Unit price | ₦1,000 per unit |
| Minimum | ₦5,000, then multiples of ₦1,000 |
| Maximum | ₦50,000,000 per subscription |
| Interest | Paid every three months (quarterly) |
| Repayment | Full amount repaid in one go on the maturity date (“bullet” repayment) |
| Who can buy | Individuals (including joint holders), businesses and corporates |
| Where to buy | Stockbroking firms appointed by the DMO as distribution agents |
| Listing | Listed on the Nigerian Exchange (NGX), so it can be sold before maturity through a stockbroker |
| Security | Backed by the “full faith and credit” of the Federal Government |
Interest dates for the November 2026 bonds
Bonds from the November offer pay interest on 11 February, 11 May, 11 August and 11 November. The 2-year bond matures on 11 November 2028 and the 3-year bond on 11 November 2029. Each month’s bonds have their own dates, set out in that month’s offer document.
How much you can earn
These examples use November 2026’s rates. Interest is simple: the yearly rate on your amount, split into four quarterly payments.
| Amount invested | 2-year at 13.25%: every quarter | 2-year: total interest | 3-year at 14.25%: every quarter | 3-year: total interest |
|---|---|---|---|---|
| ₦5,000 (minimum) | ₦165.63 | ₦1,325 | ₦178.13 | ₦2,137.50 |
| ₦100,000 | ₦3,312.50 | ₦26,500 | ₦3,562.50 | ₦42,750 |
| ₦500,000 | ₦16,562.50 | ₦132,500 | ₦17,812.50 | ₦213,750 |
| ₦1,000,000 | ₦33,125 | ₦265,000 | ₦35,625 | ₦427,500 |
Because interest is paid out rather than added to your bond, it does not compound unless you reinvest it yourself, for example by buying another savings bond with your interest once it reaches ₦5,000.
How to buy the FGN Savings Bond, step by step
- Choose a DMO-appointed stockbroker. The DMO publishes the list of distribution agents on dmo.gov.ng. Only buy through a firm on that list.
- Make sure your names match. Your name must be exactly the same on your bank account, your BVN and your CSCS record. A missing middle name or a different spelling can get your subscription rejected.
- Have a CSCS account. It is mandatory. If you do not have one, your stockbroker can open it for you; Stanbic IBTC Stockbrokers, for example, says submitting its form counts as consent for it to open one.
- Wait for the window. Offers open on a Monday and close at 5pm on the Friday of the same week. The next one is 7 to 11 December 2026.
- Pay into the stockbroker’s designated account with your name as the narration, as the broker instructs.
- Fill in the subscription form (most brokers have an online form) and upload or email your payment receipt before the closing time.
- Receive your allotment. Your bond is credited to your CSCS account, and interest is paid into your bank account on each coupon date.
If your subscription cannot be processed, the money is refunded to the bank account it came from.
Savings bond, T-bills or a savings account?
| Option | Minimum | How long | How you earn | Best for |
|---|---|---|---|---|
| FGN Savings Bond | ₦5,000 | 2 or 3 years | Fixed rate paid every quarter | Money you will not need for two years or more, and a regular income |
| Treasury bills | Depends on your bank or broker | 91, 182 or 364 days | Bought at a discount, repaid at face value | Money you need back within a year |
| Bank savings account | Very low | Any time | Variable interest set by the bank | Emergency money you must reach instantly |
For short-term money, see our guide on how to buy Treasury bills. For other ways to grow your savings, read how to save money in Nigeria.
Things to know before you invest
- You can sell early, but the price may differ. The bond is listed on the NGX, so a stockbroker can sell it for you before maturity, but you get the market price on the day, which can be more or less than you paid.
- Inflation matters. A fixed rate protects you if rates fall but not if inflation rises above your rate. Compare the rate with the latest inflation figure before you lock in for three years.
- Tax. The DMO’s offer document says the bonds qualify as government securities under the companies and personal income tax laws, giving tax exemption to pension funds and other investors. Ask your stockbroker how interest is treated for your situation under the 2026 tax rules.
- Beware of imitations. The savings bond is sold only through DMO-appointed agents. Nobody can offer you a “savings bond” with a higher rate than the DMO’s published rate.
Frequently asked questions
What is the FGN Savings Bond rate for December 2026?
The DMO announces each month’s rates when the window opens. December’s window runs from 7 to 11 December 2026. In November, the rates were 13.25% (2-year) and 14.25% (3-year).
What is the minimum amount for the FGN Savings Bond?
₦5,000, and then in multiples of ₦1,000, up to ₦50 million.
How often is interest paid?
Every three months, on the coupon dates in the offer document.
Do I need a CSCS account?
Yes. Your stockbroker can open one for you if you do not have one.
Can I buy the savings bond from my bank?
The DMO sells it through appointed stockbroking firms. Some of these belong to bank groups, but your subscription goes through the stockbroker, not the bank branch.
Can I withdraw my money before maturity?
You cannot redeem it early with the DMO, but you can sell it on the NGX through a stockbroker at the market price.
Sources
- Debt Management Office (DMO) – FGN Savings Bond offer for subscription, August 2026 (terms, tax status, listing, distribution agents)
- Debt Management Office (DMO) – FGN Savings Bond offer for subscription, May 2026
- Stanbic IBTC Stockbrokers (DMO distribution agent) – “The November 2026 Offer of the FGN Savings Bond is Now Open”, 2 November 2026
Last updated: 8 November 2026 · NaijaSabi Finance Desk. This is general information, not financial advice. NaijaSabi will update this page with December’s rates when the DMO publishes them.
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