Bond Nigeriana 6.181% ( NGFGS2024894 ) in NGN

Issuer	Nigeriana
Market price	100 % ⇌
Country	Nigeria
ISIN code	NGFGS2024894 ( in NGN )
Interest rate	6.181% per year ( payment 1 time a year)
Maturity	10/03/2024 - Bond has expired
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Minimal amount	1 000 NGN
Total amount	504 244 000 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. This financial article reviews a recently matured sovereign bond, identifiable by its ISIN NGFGS2024894, issued by Nigeria, a prominent sovereign entity within the African financial landscape and the continent's largest economy, largely underpinned by its significant oil and gas sector. As a sovereign issuer, Nigeria actively participates in both domestic and international capital markets to secure funding for its national development projects and budgetary requirements. This specific debt instrument, denominated in Nigerian Naira (NGN), offered investors an annual interest rate, or coupon, of 6.181%. The total initial issuance size for this obligation amounted to NGN 504,244,000, designed with a minimum purchase threshold of NGN 1,000 to facilitate broader investor participation. A key event in this bond's lifecycle was its maturity on March 10, 2024, at which point it was observed to be trading at 100% of its par value on the market. This indicates that the principal amount of the bond, alongside any final interest accruals, was fully repaid to bondholders upon its expiry, confirming the successful redemption of the bond and underscoring Nigeria's consistent management of its debt obligations as a national borrower.