The Federal Government raised N5.86 billion through its August 2026 Federal Government of Nigeria Savings Bond (FGNSB) programme, representing a decline from the N6.19 billion raised in July, according to the latest allotment results released by the Debt Management Office (DMO) on Thursday.

The August offer comprised two-year and three-year savings bonds with interest rates of 13.963 per cent and 14.963 per cent, respectively. The subscription period ran from August 3 to 7, while settlement was completed on August 12.

The two-year bond, due August 12, 2028, attracted 1,295 subscriptions and recorded an allotment of N1.318 billion.

The three-year instrument, due August 12, 2029, attracted significantly stronger demand, with 2,882 subscriptions and an allotment of N4.545 billion.

Both instruments provide quarterly coupon payments on November 12, February 12, May 12 and August 12.

The August result represents a decline of about N330 million, or roughly 5.3 per cent, from the N6.193 billion raised in July.

The decline is notable because the July bonds offered higher interest rates of 14.716 per cent for the two-year instrument and 15.716 per cent for the three-year bond.

Financial market analysts said the weaker August performance could reflect the increasing competition for investors’ funds from other fixed-income instruments, particularly Treasury Bills and other government securities offering attractive yields.