Nigeria debt auction delayed by system glitch

Nigeria’s plans to raise 120 billion naira ($425 million) in bond maturing 2021, 2026 and 2036 on Wednesday was stalled by system glitch at the central bank, but the auction is currently ongoing, an official of the Debt Management Office said.

In a public notice on Monday, the debt office said it will raise 40 billion naira at par in 2021 bond, while also raising 40 billion naira apiece in the 2026 and 2036 maturing bonds at the auction.

“There was a system glitch at the central bank, which stalled the issuance on Wednesday, but the process is presently ongoing and will soon close,” an official of the debt office told Reuters. ($1 = 283.25 naira) (Reporting by Oludare Mayowa; Editing by Toby Chopra)

Courtesy: (Reuters)

 

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