A towel with a print of the Nigerian naira is displayed for sale at a street market in the central business district of Lagos, Nigeria, February 4, 2016.

Nigeria made $300 million with a bond targeted at the 15 million Nigerians living abroad

$300 million

The Nigerian government raised $300 million through a five-year bond targeted specifically at Nigeria’s diaspora population.

Published June 28, 2017 | Photo by Reuters/Akintunde Akinleye

$300 million

There are about 15 million Nigerians living abroad. And they send billions of dollars home every year.

$300 million

Nigeria is the sixth country in the world to receive most remittance money, and the first in Africa.

$300 million

Countries that received most remittance money in 2016

$300 million

So Nigeria decided to create the bond and channel some of that money into paying its huge public debt.

$300 million

Nigeria marketed the investment as a way to contribute to the country’s development while abroad.

Published June 28, 2017

Nigeria made $300 million with a bond targeted at the 15 million Nigerians living abroad

$300 million

There are about 15 million Nigerians living abroad. And they send billions of dollars home every year.

Nigeria is the sixth country in the world to receive most remittance money, and the first in Africa.

Countries that received most remittance money in 2016

So Nigeria decided to create the bond and channel some of that money into paying its huge public debt.

Nigeria marketed the investment as a way to contribute to the country’s development while abroad.

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Nigeria made $300 million with a bond targeted at the 15 million Nigerians living abroad

$300 million

There are about 15 million Nigerians living abroad. And they send billions of dollars home every year.

Nigeria is the sixth country in the world to receive most remittance money, and the first in Africa.

Countries that received most remittance money in 2016

So Nigeria decided to create the bond and channel some of that money into paying its huge public debt.

Nigeria marketed the investment as a way to contribute to the country’s development while abroad.

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Explore the Index

economics

Oregon is sitting on more than 1 million pounds of unsold marijuana

Finance

US banks have logged $643 billion in profits since the 2008 financial crisis

Technology

The Pentagon is awarding a $10 million prize to companies that can quick-launch satellites

corporate

Half of Amazon’s employees make less than about $28,000 per year

Technology

Russia internet ban blocks Telegram and millions of websites

economics

Global debt reached dangerous highs at $164 trillion

Technology

Tesla plans to produce 6,000 Model 3s per week in June

economics

Over 95% of the world is breathing dangerous air, but the poorest are suffering the most

economics

Chinese ports have hoarded enough iron ore to produce over 100 million cars

corporate

US firms already sell almost 60% of the world’s weapons, but Trump wants them to sell more

corporate

The successor of Martin Sorrell will have to decide the fate of WPP’s 405 agencies and 200,000 employees

corporate

Battery prices jumped more than 8% over the past year in the US, despite a drop in demand