diff --git a/Cargo.lock b/Cargo.lock
index 17d2e82596526..d6cc4b940cf34 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2654,9 +2654,9 @@ dependencies = [
 
 [[package]]
 name = "git2"
-version = "0.14.2"
+version = "0.16.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3826a6e0e2215d7a41c2bfc7c9244123969273f3476b939a226aac0ab56e9e3c"
+checksum = "be36bc9e0546df253c0cc41fd0af34f5e92845ad8509462ec76672fac6997f5b"
 dependencies = [
  "bitflags",
  "libc",
@@ -3374,9 +3374,9 @@ checksum = "efaa7b300f3b5fe8eb6bf21ce3895e1751d9665086af2d64b42f19701015ff4f"
 
 [[package]]
 name = "libgit2-sys"
-version = "0.13.2+1.4.2"
+version = "0.14.1+1.5.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3a42de9a51a5c12e00fc0e4ca6bc2ea43582fc6418488e8f615e905d886f258b"
+checksum = "4a07fb2692bc3593bda59de45a502bb3071659f2c515e28c71e728306b038e17"
 dependencies = [
  "cc",
  "libc",
diff --git a/utils/frame/generate-bags/Cargo.toml b/utils/frame/generate-bags/Cargo.toml
index 34d62ab0d8b5f..ba689733e264c 100644
--- a/utils/frame/generate-bags/Cargo.toml
+++ b/utils/frame/generate-bags/Cargo.toml
@@ -21,5 +21,5 @@ sp-io = { version = "6.0.0", path = "../../../primitives/io" }
 
 # third party
 chrono = { version = "0.4.19" }
-git2 = { version = "0.14.2", default-features = false }
+git2 = { version = "0.16.0", default-features = false }
 num-format = { version = "0.4.0" }