BOI raises N274.18bn via inaugural five-year naira bond due 2031, oversubscribed above N250bn target

On 10 September 2026 the Bank of Industry priced an inaugural domestic five‑year fixed‑rate bond due 2031, raising N274.18bn after strong investor demand allowed the issuer to increase the deal from an initial N250bn target. The transaction is the largest domestic DFI bond issuance in Nigeria on publicly available data.

The issuance creates a new onshore five‑year naira benchmark and absorbs local liquidity, which could compress mid‑curve naira yields if pension funds and insurers reallocate into the paper. By extending BOI’s domestic funding, the deal may ease near‑term sovereign rollover pressure by expanding development‑finance term funding in local currency. Actual impact depends on secondary market liquidity and investor portfolio rebalancing.

Observe secondary market pricing and trading volumes on NGX/FMDQ and any BOI disclosures on use of proceeds.