Skip to content

Nigerian Authorities have Failed to Pay Coupons on Two Savings Bonds on Time

  • Top 10 News
  • 1 min read

They have blamed the delay — the second in two months — on system and processing issues. The nation was due to pay the first coupon on two- and three-year debt it sold in June on Sept. 12, according to investors. Nigeria raised $2.56 million from the sales. Subscribers to other savings bonds said there was a week’s delay in coupon payments due in August, the first time they experienced a hold-up since the introduction of the instruments seven years ago. The delayed payments may raise concerns that the government is coming under pressure from its rising debt burden. 
 

BLOOMBERG

Subscribe

Stay informed and ahead of the game with our curated collection of the top 10 stories from Africa each day, Monday, Tuesday, Wednesday, and Thursday. On Fridays, gear up for the business world as we bring you the 10 most relevant and game-changing business stories. And on Sundays, prepare to be whisked away on a delightful journey through Africa’s vibrant lifestyle and travel scenes.