20th September, 2024
By Kazeem Ugbodaga
The Nigerian government has dismissed a recent Bloomberg report alleging delays in coupon payments on the country’s savings bonds due to “system issues.”
In a statement titled “Response to Bloomberg’s Report on Nigeria’s Savings Bond Payments,” the government, through Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, described the report as inaccurate.
According to Onanuga, Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun, had assured that Nigeria currently has no outstanding debt payments. “Nigeria has sufficient liquidity to meet all its financial obligations, and there is no default or delay in servicing our debts,” he quoted Edun as saying.
Onanuga also cited the Director General of the Debt Management Office, Ms. Patience Oniha, who confirmed that, as of September 19, the Central Bank of Nigeria (CBN) had successfully processed all due payments and that the payment scheduled for September 20 was being processed on time.
“Any suggestion of systemic financial issues causing delays in bond payments is unfounded,” Onanuga added, refuting Bloomberg’s claims of payment issues.
The government’s response firmly rejects Bloomberg’s report titled “Nigeria Says ‘System Issues’ Delaying Coupon Payment on Savings Bond,” assuring the public and investors that Nigeria’s debt servicing processes remain on track and unaffected by any systemic challenges.
