The Presidency, on Friday, faulted a report by Bloomberg of delayed coupon payments on savings bonds, saying all financial obligations are being met on schedule.
Bloomberg had reported that Nigerian authorities had failed to make timely coupon payments on two savings bonds, citing “system and processing issues” as the cause for the delay.
The report had claimed this was the second such delay in two months, involving coupon payments on two- and three-year debt sold in June, totalling N4.2 billion ($2.56 million).
Responding in a statement on Friday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, challenged the accuracy of the report.
According to Onanuga, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, confirmed that Nigeria currently has no outstanding debts and possesses sufficient liquidity to fulfil all its obligations....Read Full Article [Click Here>]
“Finance Minister and Coordinating Minister of the Economy, Mr Wale Edun, has confirmed that Nigeria currently has no outstanding debts and possesses sufficient liquidity to fulfil all its obligations.
“Bloomberg is not correct with this report. Finance Minister and coordinating minister of the economy, Mr. Wale Edun, says that Nigeria does not owe anyone at the moment. We have enough liquidity to meet all our obligations. We do not have any outstanding payments.
“Director General of the Debt Management Office, Patience Oniha, also confirms that, as of September 19, the Central Bank of Nigeria has processed all due payments. The payment due today, September 20, is also being processed for payment”, he said.
