New Telegraph-Admin 
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has announced the issuance of an inaugural domestic dollar bond from the Federal Government of Nigeria(FGN), raising $900 million and marking a significant milestone in the country’s economic development.
AFC acted as Global Coordinator on the first-of-its-kind issuance for Nigeria’s capital market. The bond, which was issued at par, has a tenor of five years and carries an annual coupon of 9.75 per cent.
The issue closed with a 180 per cent oversubscription, underscoring strong domestic investor confidence in Nigeria’s economic stability and growth potential, and the effectiveness of AFC’s strategic capital markets leadership.
As a domestic issue, the investor base comprised Nigerians and non-Nigerians resident in Nigeria, Nigerians in the Diaspora, and institutional investors.
The bond will be listed and available for trading on the Nigerian Exchange Limited (NGX) and FMDQ Securities Exchange Limited (FMDQ Exchange).
The successful issuance demonstrates AFC’s pivotal role in supporting the Nigerian government’s commitment to deepening domestic capital markets, promoting financial inclusion and diversifying funding sources.
It marks the first issuance under the FGN’s Domestic US Dollar Bond Programme. Proceeds of the bond issue will be invested in critical sectors of the Nigerian economy approved by the President on the recommendation of the Minister of Finance, subject to appropriation by the National Assembly.
“This inaugural domestic US dollar bond issuance is a significant achievement for Nigeria and marks a new chapter in the development of the country’s capital markets,” said Banji Fehintola, Executive Director and Head of Financial Services, Africa Finance Corporation.
“We are honoured to have played a leading role in this landmark transaction as the Global Coordinator, which aligns with AFC’s mission to develop domestic capital markets in Africa by providing innovative financing solutions that meet the continent’s unique needs and also leveraging our deep capital market expertise to serve and deliver value to our clients.”
