Bond Nigeriana 10.277% ( NGFGS2020223 ) in NGN

Issuer	Nigeriana
Market price	100 % ⇌
Country	Nigeria
ISIN code	NGFGS2020223 ( in NGN )
Interest rate	10.277% per year ( payment 1 time a year)
Maturity	14/02/2020 - Bond has expired
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Minimal amount	1 000 NGN
Total amount	32 820 000 NGN
Detailed description	Nigeria is a West African country with a diverse population, significant oil reserves, and a rapidly growing economy grappling with issues of political instability, corruption, and inequality. A recent development in the fixed income market saw the successful maturity and redemption of the Nigerian government bond, identified by ISIN NGFGS2020223. The Federal Republic of Nigeria, a major sovereign issuer in Sub-Saharan Africa and a prominent player in the global oil market, issued this specific debt instrument. This bond, denominated in the local currency, Nigerian Naira (NGN), featured a fixed annual interest rate of 10.277% and was part of a larger issuance totaling NGN 32,820,000. Available for purchase in minimum denominations of NGN 1,000, the bond reached its scheduled maturity date on February 14, 2020. Crucially, the bond was fully redeemed at its par value of 100% of the principal amount upon maturity, reflecting the issuer's fulfillment of its financial commitments for this specific security. This successful repayment provides a clear illustration of Nigeria's adherence to its debt obligations concerning this particular bond, having completed its lifecycle as a financial asset.