Tutorials
How to acquire FGN Savings Bonds through your banking app (2026)
Step-by-step guide to subscribing to the new June 2026 FGN Savings Bonds — 2-year at 13.777% and 3-year at 14.777% — through your mobile banking app.
FGN Savings Bonds are government-backed debt instruments issued by the Debt Management Office (DMO) Nigeria. When you hold a Savings Bond, you are lending to the Federal Government for a fixed period (2 or 3 years) in exchange for a fixed interest rate paid quarterly.
They differ from Nigerian Treasury Bills in two key ways: the tenor is longer (2–3 years vs 91–364 days), and the interest is paid every quarter rather than as an upfront discount.
What you need to get started
Before you subscribe, ensure you have:
- A Nigerian bank account with a mobile app that supports the DMO Savings Bond platform (most major banks including GTBank, Zenith, FirstBank, Access, UBA, and Stanbic IBTC offer this).
- KYC-compliant identity verification linked to your bank account.
You do not need a CSCS account or a stockbroker to hold FGN Savings Bonds. The bonds are held in your name at the Central Bank of Nigeria (CBN) through your bank.
Step-by-step subscription process
Subscribing through your banking app
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Log into your banking app and find the Investments section
Open your bank’s mobile app. Look for a tab labelled Investments, Wealth, or Bonds. Exact naming varies by bank, but the subscription flow is similar across all major banks. If you cannot find it, search for “Savings Bonds” in the app’s search bar.
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Select FGN Savings Bonds
Tap on the Savings Bonds option. The app will display the current offer details — the two available tenors (2-year and 3-year) and their respective interest rates. For the June 2026 offer, the 2-year bond pays 13.777% and the 3-year bond pays 14.777%.
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Choose your tenor and enter the amount
Decide which tenor matches your financial goals. Select the amount you want to allocate. The minimum is ₦5,000 and you can subscribe in increments of ₦1,000 above that. The app will show you:
- The face value you selected
- The quarterly interest amount you will receive
- The total interest over the full tenor
You can subscribe to both tenors in the same offer period if you wish.
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Confirm and fund
Review the details, tick the declaration confirming you understand the terms, and tap Confirm. The full face amount will be debited from your bank account. Unlike Treasury Bills (which deduct the discounted amount), Savings Bonds require the full face value upfront.
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Receive your allotment confirmation
After the DMO auction closes (typically within 2–3 business days), the bank will notify you of your allotment via email and in-app notification. You can view your bond holdings in the same Investments section of the app.
Interest payment schedule
The key advantage of FGN Savings Bonds over Treasury Bills is quarterly interest payments.
| Tenor | Interest rate | Quarterly payout (per ₦100,000) | Total interest over full term |
|---|---|---|---|
| 2-year | 13.777% | ₦3,444 | ₦27,554 |
| 3-year | 14.777% | ₦3,694 | ₦44,331 |
Interest is paid directly into your bank account every three months on the coupon payment date. You do not need to take any action — the bank credits your account automatically.
Early liquidation
If you need funds before the bond matures, you can request early liquidation through your bank. However:
- The bond is sold at prevailing market rates, which may be lower than your original rate if interest rates have risen.
- You receive the principal plus accrued interest up to the liquidation date.
- The process takes 5–7 business days.
Tax treatment
FGN Savings Bonds are currently exempt from withholding tax for individual holders. You receive the full stated interest rate without deductions. This is the same tax treatment as Treasury Bills.
Frequently asked questions
Frequently asked questions
Can I hold FGN Savings Bonds in multiple tenors?
Yes. You can subscribe to both the 2-year and 3-year bonds in the same offer period, or hold bonds from different monthly offers simultaneously. Each subscription is separate.
What happens at maturity?
On the maturity date, the full face value of the bond is credited to your bank account. You also receive the final quarterly interest payment at the same time. The principal does not roll over automatically — you need to subscribe again if you want to continue holding.
Are FGN Savings Bonds the same as Savings Bonds from the US or UK?
The concept is similar — a government-backed fixed-income instrument — but the specific mechanics differ. Nigerian FGN Savings Bonds are issued by the DMO, held at the CBN, and are only available to Nigerian residents and citizens. Returns are in Naira.
What happens if the offer is oversubscribed?
If total demand exceeds the available amount (the June 2026 offer had ₦876m for the 2-year and ₦3.8bn for the 3-year), the allotment is scaled proportionally. You may receive less than the amount you requested. Your bank will refund the excess within a few business days.
Can a non-resident Nigerian subscribe?
FGN Savings Bonds are available through the retail banking channel, which requires a local Nigerian bank account. Diaspora Nigerians with an active Nigerian bank account (including NRN accounts) can subscribe. Without a local account, a mutual fund alternative like the Stanbic IBTC Dollar Fund may be more accessible.
FGN Savings Bonds offer a straightforward way to lock in fixed quarterly income with government backing. The full digital subscription process through your banking app means you can complete the entire process in under 10 minutes.
