The Debt Management Office says it is auctioning ₦600 billion worth of reopened Federal Government bonds on Monday, with yields reaching as high as 22.60 per cent.
The agency is offering two previously issued instruments on behalf of the Federal Government — a 22.60 per cent 10-year bond due in January 2035 and a 16.2499 per cent 20-year bond due in April 2037. The auction is scheduled for settlement on May 20, 2026.
According to the DMO, the offer is structured across two tranches of ₦300 billion each, with semi-annual interest payments and full repayment of principal at maturity. The bonds are priced at ₦1,000 per unit, with a minimum subscription of ₦50.001 million, and are backed by the full faith and credit of the Federal Government.
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The agency says the reopening strategy is aimed at consolidating liquidity in existing debt instruments. It adds that the continued high yields reflect prevailing tight monetary conditions and strong investor demand for government securities.
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