Following the sudden death of General Sani Abacha on 8th June, 1998, General Abdusalami Abubakar, the Chief of Defence Staff was appointed as the new Head of State and Commander-in-Chief of the Armed Forces. The regime was therefore a child of circumstance.

The intrinsic value of an option is the difference between the price of the underlying asset in the market and the exercise price. Intrinsic value is always positive. When the difference between the price of the underlying asset and the strike price is negative, the intrinsic value equals 0. At expiration, the intrinsic value is the value of the option.