The bank said the notes, priced to yield 7.5 percent, were due to mature in May 2016 and that the tender was voluntary. It said in a tender notice the bank would maintain cash to repay any outstanding debt not tendered.
The naira's exchange rate has dropped 35 percent below its official level on the black market, weighed down by sinking oil prices and speculation that Africa's biggest economy will have to formally devalue.
The results of the tender offer will be announced on Feb. 11.
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