The Federal Government of Nigeria will repay bonds totalling N456bn to investors by the end of 2012.

The bonds with the three-year and five-year maturity tenor would be repaid by August 2012.

A document posted on the website of the Nigerian Stock Exchange on Monday, showed that the three-year bonds were the 6th FGN Bond Series 1, valued at N125bn, with a maturity date of January; and 6th FGN Bond 2012 Series 2, valued at N200bn with a maturity date of May 2012.

According to the document, the three year bonds were issued in January and May 2009, while the five-year bonds were issued between February 23 and August 31, 2007.

It noted that the bonds with the five-year maturity period were the 4th FGN Bond 2012 Series 2, valued at N35bn with a maturity date of February 2012 and the 4th FGN Bond 2012 Series 5, valued at N50bn with a maturity date of May 2012.

The last five-year bond: the 4th FGN Bond 2012 Series 10, valued at N46bn had a maturity date of August 2012.

It noted that the bonds had been renamed the 9.50 per cent FGN February 2012 Bond, 9.23 per cent FGN May 2012 Bond and the 9.50 per cent FGN August 2012 Bond.

Others are the 9.92 per cent FGN January 2012 Bond and the 10.50 per cent FGN May 2012 Bond, with interest rates of 9.5 per cent, 9.23 per cent, 9.5 per cent, 9.92 per cent and 10.50 per cent respectively.

The NSE had stated that the value of FGN bonds, which represented the amount borrowed by the Federal Government to finance various projects, stood at N3.54tn as at the end of 2011.

The bonds listed in the Nigerian capital market were issued from 2003, with maturity dates of up to year 2030.

It noted that five of the bonds valued at N456bn would mature by the end of this year, while nine bonds would mature in 2013, with a total value of N902.66bn.

Further analysis also showed that four of the bonds, valued at N480bn, would mature in 2014. Another bond, valued at N500bn, will mature in 2015.

Two FGN bonds, with a value of N120bn, have a maturity date of 2017; another, valued at N280.24bn, will mature in N2018; while one, valued at N160bn, will mature in 2019.

According to the document, another separate bond valued at N75bn, will mature in 2028, while two bonds valued at N350bn, will mature in 2029.

It added that the last bond, with a value of N217.3bn, would mature in 2030.

Source: Punch/Udeme Ekwere