Presidency Refutes Bloomberg Report on Debt Payment Delays

The Presidency in Nigeria has debunked claims of delayed coupon payments on savings bonds, saying that all financial obligations are being met on schedule.

This was a swift response to a recent Online media publication, Bloomberg report that alleged that the Nigerian government had failed to make timely coupon payments on two savings bonds, citing “system and processing issues” as the cause for the delay.

Special Adviser on Information and Strategy to President Bola Ahmed Tinubu, Mr Bayo Onanuga, challenged the consistency of Bloomberg’s report.

The statement reads: “According to Nigeria’s Finance Minister and Coordinating Minister of the Economy, Mr Wale Edun, the country currently owes no outstanding payments. Nigeria has sufficient liquidity to meet all its financial obligations, and there is no default or delay in servicing our debts.”Additionally, the Director General of the Debt Management Office, Ms. Patience Oniha, confirmed that, as of September 19, the Central Bank of Nigeria has successfully processed all due payments. The payment scheduled for today, September 20, is also being processed on time. Any suggestion of systemic financial issues causing delays in bond payments is unfounded.”