FG only owes N12bn in domestic Debts – CBN

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Godwin Emefiele's CBN Governor: FG bears only N12bn of domestic debt

By Olawunmi Ashafa

On Wednesday, the Central Bank of Nigeria (CBN) said the country had unpaid domestic debt of 12.44 billion N0000 as of December 2018.

This is included in the Bank's 2018 annual activity report published by CBN's Financial Markets Department and was posted on the Lagos website on Wednesday.

The CBN stated that the figure is a decrease of 145.3 million NZ (1.16%) compared to NZ 25.90 billion in 2017.

According to CBN, the decline was due to the federal government choosing foreign borrowing to cover the budget deficit at an attractive rate.

That said, "Debt stocks are FPG bonds worth $ 91.300 billion or 73.41%, FND savings bonds worth 10.75 billion Ndora or 0.09%, FGN Sook for N 20. 00 billion or 1.61%.

"FGN Green Bond is equivalent to 106.9 billion NW (0.09%), FGN Special Bond is equivalent to 255.4 billion NU (1.61%), and NTB is equivalent to N 27359.7 billion (21.99%). "

Regulators also said that the national issue of 159,990 million government bonds accounted for the remaining 1.21%.

The bank added that the cost of debt repayments increased by 23.65% to N. 180 billion compared with N. 146 billion at the end of 2017.

"The increase in debt repayment costs in 2018 was due to the coupon payments for new products such as FGN Sukuk, Green bond and FGN Savings," it said.


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