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We are pleased to inform you that the May edition of the Offer for Subscription of the Federal Government of Nigeria Savings Bond (FGNSB) is now open. The Debt Management Office (DMO) has announced that it has been authorised to receive applications for fresh Issues of the FGNSB on the following terms:

    • 2-Year FGN Savings Bond due May 16, 2020

Interest Rate: 9.48%

    • 3-Year FGN Savings Bond due May 16, 2021

Interest Rate: 10.48%

  • Opening Date: May 7, 2018
  • Closing Date: May 11, 2018
  • Settlement Date: May 16, 2018

Investors may apply for either or both of these maturities, as preferred.

Please find below additional information to guide your application:

  • Units of Sale:
    • N1,000 per unit subject to a minimum subscription of N5,000.00 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.00
    • Coupon Payment: Payable every quarter with principal repayment at maturity
    • Coupon Payment Dates: August 16; November 16; February 16; May 16
    • Security: The FGNSB is backed by the full faith and credit of the Federal Government
      of Nigeria (FGN)


  • The FGNSB is backed by the full faith and credit of the Federal Government of Nigeria (FGN)
  • Qualifies as government securities within the meaning of Company Income Tax Act (CITA) and Personal Income Tax Act (PITA) for Tax Exemption for Pension Funds, amongst other investors
  • Will be listed on the Nigerian Stock Exchange
  • Qualifies as a liquid asset for liquidity ratio calculation for banks

Subscription Mode: Investors can subscribe through FBNQuest Securities Limited,
for the FGNSB issues being offered by taking the following steps:

    here to access our account opening forms for this purpose; (N.B: Existing stockbroking clients with CSCS account numbers will only need to provide their CSCS account details.
  • Obtain the FGNSB subscription form (form may be downloaded here)
  • Make payment for subscriptions with beneficiary name clearly indicated to our account within the subscription period:

Account Name: FBN Securities IPO Account
Bank: First Bank of Nigeria Plc.
Account Number: 2031788029

    • Immediately fill and submit the subscription form

Investors should immediately contact their Relationship Manager or send an e-mail to customercare@fbnquest.com with evidence of payment for immediate confirmation of payment receipt

The CSCS is expected to credit investors’ account with allotted FGNSB volume on the settlement date.

We will be happy to assist with any further enquiries about the subscription process or trading the FGN Savings Bond on the NSE.

For more information, please click here.