Markets: Nigeria Nigeria
Nigeria


October 30, 2014
Fiscal Agent Notice Regarding November 17, 2014 Payment on Nigeria Payment Adjustment Rights.

April 30, 2014
Fiscal Agent Notice Regarding May 15, 2014 Payment on Nigeria Payment Adjustment Rights.
 

October 31, 2013
Fiscal Agent Notice Regarding November 15, 2013 Payment on Nigeria Payment Adjustment Rights.

April 30, 2013
Fiscal Agent Notice Regarding May 15, 2013 Payment on Nigeria Payment Adjustment Rights.

November 7, 2012
Standard & Poor’s Upgrades Nigeria’s Long-Term Foreign Currency Sovereign Credit Rating from B+ to BB-.

November 2, 2012
Fiscal Agent Notice Regarding November 15, 2012 Payment on Nigeria Payment Adjustment Rights. 

June 11, 2012
EMTA Launches the Africa Focus Portal, providing convenient access to Africa-related resources on www.emta.org.

April 30, 2012
Fiscal Agent Notice Regarding May 15, 2012 Payment on Nigeria Payment Adjustment Rights.

October 31, 2011
Fiscal Agent Notice Regarding November 15, 2011 Payment on Nigeria Payment Adjustment Rights.

June 24, 2011
Circular of the Central Bank of Nigeria Lifting Restrictions on Trading of Federal Government Bonds of Less Than One Year. 

May 16, 2011
Fiscal Agent Notice Regarding May 16, 2011 Payment on Nigeria Payment Adjustment Rights.

December 14, 2010
EMTA today announces the publication of its Recommended FX and Currency Derivatives Market Practice No.54 on Template Terms for Nigerian Naira Non-Deliverable Forward FX Transactions. See EMTA’s website (FX and Currency Derivatives Documentation and Market Practices) for documentation and more information.  

November 1, 2010
Fiscal Agent Notice Regarding November 15, 2010 Payment on Nigeria Payment Adjustment Rights.
 

May 12, 2010

Fiscal Agent Notice Regarding May 17, 2010 Payment on Nigeria Payment Adjustment Rights. 

November 10, 2009

Fiscal Agent Notice Regarding November 16, 2009 Payment on Nigeria Payment Adjustment Rights. 

August 21, 2009

Standard & Poor's Downgrades Nigeria's Long-Term Foreign Currency Rating from BB- to B+. 

May 6, 2009

Fiscal Agent Notice Regarding May 15, 2009 Payment on Nigeria Payment Adjustment Rights. 

October 31, 2008

Fiscal Agent Notice Regarding November 17, 2008 Payment on Nigeria Payment Adjustment Rights. 

May 2, 2008

Fiscal Agent Notice Regarding May 15, 2008 Payment on Nigeria Payment Adjustment Rights. 

November 20, 2007

Revised Primers for Venezuela Oil Obligations and Nigeria Payment Adjustment Warrants, and EMTA Advisories Regarding Venezuela Oil Obligations and Their Related Payments and Nigeria Payment Adjustment Warrants and Their Related Payments. 

October 31, 2007

Fiscal Agent Notice Regarding November 15, 2007 Payment on Nigeria Payment Adjustment Rights. 

June 7, 2007

Netting and Offset Facilities Completed for Nigeria and Venezuela Warrants. 

EMTA Summer Forum in London to be Held on June 28, 2007. Details TBA.

June 6, 2007

Revised Primers for  Venezuela Oil Obligations  and  Nigeria Payment Adjustment Warrants. 

May 11, 2007

Fiscal Agent Notice Regarding May 15, 2007 Payment on Nigeria Payment Adjustment Rights. 

April 25, 2007

EMTA Advisory Regarding Nigeria Payment Adjustment Warrants and Related Payments on Payment Adjustment Rights. 

March 29, 2007

Nigeria Announces Results of Tender Offer for Oil Warrants.   

March 15, 2007

Nigeria Press Release Regarding Warrant Tender Offer.
 

February 26, 2007

Nigeria Launches Tender Offer for Warrants.
 

January 26, 2007

Nigeria Hires Citigroup for Planned Tender Offer for Warrants.
 

January 11, 2007

Nigeria Intends to Launch Tender Offer for Warrants.
 

November 15, 2006

Payment on Nigeria Payment Adjustment Rights - Fiscal Agent Notice and Euroclear DACE Notice.

November 10, 2006

EMTA's FOCUS ON AFRICA: The Nigerian Financial Markets [Proceedings Subject to the Chatham House Rule]:

  • Click Here for remarks by Dr. Mansur Muhtar (Debt Management Office) delivered by Mr. Yukubu Aliyu
  • Click Here for remarks by Dr. Sarah Alade (Central Bank of Nigeria)
  • Click Here for remarks by Mr. Bode Agusto (Budget Office, Nigerian Ministry of Finance)
  • Click Here for remarks by Mr. Bolaji Shenjobi (Money Market Association of Nigeria)
  • Click Here  for a paper by Miss Eyamba Henshaw (National Pensions Commission) [unable to attend in person]
  • Click Here for "Nigeria: Main Findings from EMTA Conference in London" Francis Beddington and Stephen Bailey-Smith (Standard Bank)
  • Click Here for "FAQs on Investing in the Nigerian Bond Market" provided by Udo Udoma & Belo-Osagie
 

October 18, 2006

EMTA's Focus on Africa: The Nigerian Financial Markets to Be Held on November 9, 2006. Click Here to Register.

October 11, 2006

Nigeria to Redeem All of its Outstanding Brady Bonds - Fiscal Agent Notice.

September 21, 2006

Save the Date for EMTA's Special Seminar “FOCUS ON AFRICA: The Nigerian Financial Markets” in London Sponsored by Standard Bank on November 9, 2006. 

August 15, 2006

Nigeria Payment Adjustment Warrants Certificate Evidencing Payment Adjustment Rights. 

May 1, 2006

Fiscal Agent Notice Regarding May 15, 2006 Payment on Nigeria Payment Adjustment Rights. 

March 6, 2006

EMTA Market Practice Recommendation Regarding Nigeria Payment Adjustment Warrants.  

February 22, 2006

Revised Primers for Venezuela Oil Obligations and Nigeria Payment Adjustment Warrants. 

February 6, 2006

Nigeria Assigned a BB- by Standard & Poor's. 

January 30, 2006

Nigeria Assigned a BB- Rating by Fitch. 

October 31, 2005

Fiscal Agent Notice Regarding November 15, 2005 Payment on Nigeria Payment Adjustment Rights. 

June 29, 2005

Paris Club Sets Naples Terms for Nigeria. 

May 24, 2005

Revised Primer on Nigeria Payment Adjustment Warrants. 

May 20, 2005

Fiscal Agent Notice Regarding May 15, 2005 Payment on Nigeria Payment Adjustment Rights.  

April 14, 2005

Fiscal Agent Notice Regarding November 15, 2004 Payment on Nigeria Payment Adjustment Rights (With Default Interest). 

January 25, 2005

Fiscal Agent Notice Regarding May 15, 2003 Payment on Nigeria Payment Adjustment Rights. 

November 12, 2004

Euroclear Notice Regarding Nigeria Payment Adjustment Rights. 

September 8, 2004

EMCC Notice Regarding Exiting of Failed Warrant Transactions. 

May 16, 2003

Citibank Informs EMTA of Missed Payment on Nigeria Payment Adjustment Rights. Previous Payment Due on May 15, 2001 was Paid with Interest on November 15, 2001.

April 30, 2003

Calculations for Payments on Nigeria Payment Adjustment Rights. 

January 7, 2003

Nigeria Announces Collateral Value for Par Bond Invitation.  

December 17, 2002

Nigeria Exchange Offer: Citigroup Press Release, Nigeria Press Release, Amended Letter of Transmittal and Clarification on Nigeria Warrants. 

December 5, 2002

Nigeria Exchange Offer Extended from December 6 to December 20. Bond Instructions Must be Submitted by 3:00 PM (London Time) on December 19; Letters of Transmittal Must be Submitted by 3:00 PM (London time) on December 20; and the Clearing Price for the Bonds will be Announced on December 23.

October 30, 2002

Brady Bond Holiday Schedule for US Veterans Day Holiday.  

The Fiscal Agent has Confirmed that the November 15 Payment Amount Relating to Nigeria Warrants is Zero.

October 21, 2002

New Nigeria Market Practices for the Separate Trading of USD Par Bonds and their Related Payment Adjustment Warrants, together with a Revised Primer.  

March 8, 2002

The Slide Presentation Made by Paris Club Officials at a Meeting with Private Sector Representatives Is Available at http://www.clubdeparis.org/rep_upload/presentationcomplete0.pdf.  

November 15, 2001

Primer on Venezuela Oil-Indexed Payment Obligations.  

Citibank Distributing Late Nigeria Warrant Payment Today.  

August 31, 1998

Market Practices for the trading and settlement of Nigeria Promissory Notes. 

September 27, 1996

Market Practice for trades of Brady bonds with related Rights or Warrants. 

September 30, 1992

Market Practices for trading bonds with related rights or warrants.



Documentation
(Primer) Nigeria Payment Adjustment Warrants (11/20/07, 6/6/07, 2/22/06, 5/24/0510/21/02)
(Netting) Bilateral Netting Agreement for Nigeria Warrants (7/26/06)
Bilateral Netting Agreement for Nigeria Warrants User's Guide (7/26/06)
See also: Bonds and Loans Documentation for General Market Practice Guides.

MP107 Recommended Market Practices for Nigeria USD Par Bonds and their related Payment Adjustment Warrants, dated October 21, 2002 and effective November 1, 2002.
MP59 Recommended Market Practices for the trading and settlement of Nigeria Promissory Notes, dated August 31, 1998 and effective September 8, 1998.