By Johnbosco Agbakwuru

The Presidency has denied a Bloomberg report alleging delays in coupon payments on the country’s savings bonds, insisting that all financial obligations are being met as scheduled.

Special Adviser to the President on Information and Strategy, Bayo Onanuga, refuted the report on his verified social media account @aonanuga1956, labeling it as inaccurate.

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.
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— Bayo Onanuga (@aonanuga1956) September 20, 2024

Onanuga said that Finance Minister Wale Edun confirmed Nigeria’s financial stability, stating that the country possesses sufficient liquidity to fulfill all its obligations without any outstanding debts.

Supporting this position, Patience Oniha, Director General of the Debt Management Office (DMO), assured that the Central Bank of Nigeria had processed all due payments by September 19, with payments due on September 20 also underway.

Bloomberg’s report had cited “system issues” as the reason for alleged delays in coupon payments on savings bonds. However, the Nigerian government maintains that these claims are unfounded and reassures stakeholders of its commitment to timely debt servicing.

Vanguard News