Presidency speaks on Bloomberg Report on delayed bond payments

The Nigerian presidency has dismissed a Bloomberg report alleging delays in coupon payments on the country’s savings bonds, assuring that all financial obligations are being fulfilled as scheduled.

Bayo Onanuga, Special Adviser to the President on Information and Strategy, labeled the report as inaccurate in a post on his verified X handle, @aonanuga1956.

Onanuga cited Finance Minister Wale Edun, who confirmed that Nigeria has sufficient liquidity to meet all its obligations and does not owe any payments.

Edun’s statement was backed 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 September 20 payment 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’s report alleged 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.

Bloomberg’s article claimed 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).