Bond Nigerian Central Bank 0% ( NGT021101248 ) in NGN

Issuer Nigerian Central Bank
Market price 100 %  ▲ 
Country  Nigeria
ISIN code  NGT021101248 ( in NGN )
Interest rate 0%
Maturity 11/01/2024 - Bond has expired



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Minimal amount /
Total amount 1 489 311 000 NGN
Detailed description The Central Bank of Nigeria (CBN) is Nigeria's central bank, responsible for issuing currency, managing monetary policy, and regulating the financial system.

A notable event in the Nigerian debt capital market concerns the recent maturity and redemption of a specific bond instrument issued by the Central Bank of Nigeria (CBN). This fixed-income security, identified by its International Securities Identification Number (ISIN) NGT021101248, originated from Nigeria and was denominated in the country's local currency, the Nigerian Naira (NGN). The Central Bank of Nigeria, as the issuer, stands as the apex monetary authority of the Federal Republic of Nigeria, charged with the critical responsibilities of ensuring monetary and price stability, managing the nation's foreign exchange reserves, issuing legal tender currency, and supervising the banking system. Its activities in the financial markets, including the issuance of various debt instruments like the one in question, are integral to its mandate of implementing monetary policy and fostering a stable financial environment. The bond, which represented a total issuance size of NGN 1,489,311,000, featured a zero percent interest rate, characteristic of a zero-coupon bond, implying it was likely issued at a discount and redeemable at its face value. With a maturity date of January 11, 2024, and a payment frequency of one (signifying a single principal repayment at maturity), the bond was confirmed to have reached its full term. Its market price stood at 100% upon maturity, affirming its redemption at par, and official statements indicate that this specific obligation has now fully matured and been successfully redeemed by the Central Bank of Nigeria, concluding its financial cycle within the domestic market.