Nigeria’s Presidency Denies Bloomberg Report on Debt Payments

Nigeria’s Presidential administration has refuted a Bloomberg report alleging a delay in coupon payments on its savings bonds, asserting that all financial obligations are being fulfilled as planned.

Bayo Onanuga, Special Adviser to the President on Information and Strategy, refuted the report via a post on his verified X account, @aonanuga1956, describing the information as inaccurate.

Onanuga stated that Finance Minister Wale Edun confirmed Nigeria’s liquidity position remains strong, ensuring that all financial obligations are being fulfilled without delay.

“Nigeria has sufficient funds to meet all its commitments, and no payments are outstanding,” he noted.

According to him, Edun’s statement was further supported by Patience Oniha, Director General of the Debt Management Office (DMO), who confirmed that the Central Bank of Nigeria had processed all due payments as of September 19, with the payment due on September 20 also in progress.

“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”, Onanuga said.

Bloomberg reported that Nigerian authorities allegedly failed to make timely coupon payments on two savings bonds, citing “system and processing issues” as the cause for the delay.

The article claimed that this was the second such delay in two months, involving coupon payments on two- and three-year debt sold in June, totaling ₦4.2 billion ($2.56 million).

SOURCE: Western Post