The Federal Government, through the Debt Management Office (DMO), has announced an offer of two FGN bonds for subscription at N1,000 per unit.

The DMO stated that the first offer is two-year FGN Savings Bond due Aug. 12, 2028 at interest rate of 13.96 per cent per annum.

The second offer is a three-year FGN Savings Bond due in Aug. 12, 2029 at interest rate of 14.96 per cent per annum.

It said that the opening date for the offer is Monday August 3rd, 2026 (today), while closing date is Aug. 7, settlement date is Aug. 12, while coupon payment dates are Nov. 12, Feb. 12, May 12 and Aug.12.

“Subscription is N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.

“Interest is payable quarterly, and bullet repayment is on the maturity date, ” the DMO said.

The DMO added that the FGN savings bonds, like all other Federal Government securities, were backed by the full faith and credit of the federal government and charged upon the general assets of Nigeria.

”They qualify as securities in which trustees can invest under the Trustee Investment Act.

”They qualify as government securities within the meaning of the Company Income Tax Act and Personal Income Tax Act for exemption for pension funds, among other investors.

”They are listed on the Nigerian Exchange Ltd., and they qualify as liquid assets for liquidity ratio calculation for banks,” it said.

The News Agency of Nigeria (NAN) reports that the FGN Savings Bond is a retail debt instrument issued by the DMO on behalf of the Federal Government.

It is specifically designed to enable retail investors and average earners to participate in government debt securities with lower capital requirements than standard FGN bonds.

Subscription to FGN savings bonds means one is lending money to the federal government, which agrees to pay interest (coupon) at regular intervals and to repay the principal when the bond matures

Cbn

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5 per cent, citing the need to sustain macroeconomic stability amid easing domestic inflation and growing global economic uncertainties.

The decision was announced on Tuesday by the Governor of the Central Bank of Nigeria and Chairman of the MPC, Olayemi Cardoso, at the end of the committee’s 306th meeting held in Abuja.

The latest decision marks the second consecutive meeting in 2026 in which the apex bank has maintained the benchmark lending rate, signalling a cautious approach to monetary policy while monitoring both domestic and international economic developments.

In addition to retaining the MPR at 26.5 per cent, the committee also left other key monetary policy parameters unchanged. The asymmetric corridor around the MPR was maintained at +500/-100 basis points, while the Cash Reserve Ratio (CRR) remained at 40.5 per cent for Deposit Money Banks and 16 per cent for Merchant Banks. The Liquidity Ratio was equally retained at 30 per cent.

Addressing journalists after the meeting, Cardoso explained that the committee’s decision followed a comprehensive assessment of prevailing economic conditions and the balance of risks facing the Nigerian economy.

According to him, although Nigeria’s headline inflation moderated slightly to 15.91 per cent in June 2026—its first decline in three months—the MPC considered it prudent to maintain its current monetary policy stance in view of heightened global uncertainties, particularly the renewed geopolitical tensions in the Middle East.

He noted that the committee believes holding rates steady would provide sufficient time to evaluate incoming economic data before considering any future policy adjustments.

Cardoso observed that despite increasing global risks, particularly those capable of triggering renewed inflationary pressures through higher energy and commodity prices, the Nigerian economy has continued to demonstrate resilience.

He attributed the country’s economic stability to the reforms implemented by both the Federal Government and the Central Bank, which, he said, have strengthened macroeconomic fundamentals and enhanced the economy’s capacity to withstand external shocks.

The CBN Governor further commended the growing coordination between fiscal and monetary authorities, describing the improved policy alignment as critical to achieving sustainable economic growth, price stability and overall macroeconomic objectives.

He also disclosed that the MPC welcomed the positive outcome of the ongoing banking sector recapitalisation programme, noting that Nigeria’s banking industry has continued to record stronger prudential and financial soundness indicators.

According to Cardoso, the committee expressed confidence that inflation would continue on a gradual downward path in the coming months but cautioned that any prolonged escalation of the Middle East conflict could reverse recent gains by exerting fresh pressure on global supply chains and commodity prices.

To safeguard financial system stability, the MPC urged the Central Bank to sustain robust supervision of financial institutions in order to preserve the resilience of the banking sector and mitigate emerging risks.

Reaffirming the committee’s commitment to maintaining price stability and ensuring a sound financial system, Cardoso assured that the MPC remains prepared to adjust monetary policy whenever evolving macroeconomic conditions require such action.

The latest policy decision comes on the heels of the National Bureau of Statistics’ report showing that Nigeria’s inflation rate declined to 15.91 per cent in June 2026, raising cautious optimism that the country’s tight monetary policy measures may be yielding positive results while supporting broader economic stability.

Traders in Ekiti State have appealed to governments at all levels to take urgent steps to address the rising cost of goods and ease the economic burden on citizens.

Our correspondent, Oluwaseun Adebolu, who visited Market places in Ado-Ekiti to assess the situation, said that many traders called for increased government support to improve business activities and enhance the welfare of residents.

The traders commended the Ekiti State Government for its efforts to promote local businesses but stressed that additional interventions targeted at traders and families would further improve their standard of living.

They expressed concern over the persistent increase in the prices of goods and commodities, attributing the trend to high transportation costs and the impact of the removal of fuel subsidy on the economy.

According to the traders, many essential items that were once affordable have become increasingly expensive, making it difficult for both traders and consumers to cope with current economic realities.

They also noted a shift in consumers’ buying habits, explaining that many customers now prefer shopping in markets closer to their homes to reduce transportation costs.

The traders further lamented a decline in market patronage, saying sales have dropped significantly compared to previous years due to reduced purchasing power.

They urged the government, relevant agencies, and other stakeholders to introduce measures such as palliatives, soft loans, and transportation subsidies for traders to cushion the effects of the economic hardship and stimulate commercial activities across markets in the state.