Analysts Allay Fears of Nigeria’s Default as Eurobond Investors Fret Zambia's failure to honour coupon payment triggers concerns Obinna Chima Analysts have allayed concerns about the likelihood of Nigeria defaulting on its Eurobond payments to investors even as investors in the debt
instrument issued by African countries have adopted cautious trading. The assurance came against the backdrop of the announcement last Friday by Zambia that it would not pay
an overdue Eurobond coupon after a 30-day grace period elapsed. Zambia failed to pay a $42.5 million coupon on one 2024 dollar-denominated sovereign bonds that was due last
month. As a result of this, the Zambian government had requested that bondholders deferred interest payments until April as it struggles to secure funding from the International Monetary Fund
(IMF) as well as debt relief from other creditors. But the creditors rejected the Zambian government's request. ZAMBIA 2024 and 2022 Eurobonds were the worst performing instruments in the
continent last week as their yields climbed 0.5 per cent and 1.2 per cent week-on-week respectively. But speaking in an interview Continued on page 10
NNPC Reports N86bn Rise in August’s Operating Expenditure... Page 8 Monday 16 November, 2020 Vol 25. No 9352. Price: N250
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States Cautious on Ending Ex-govs, Deputies’ Pension Seriki Adinoyi in Jos, Ibrahim Shuaibu in Kano, David-Chyddy Eleke in Awka, Daji Sani in Yola, Innocent Onuminya in Sokoto, Arinze Gideon in Enugu and Okon Bassey in Uyo
GRATEFUL HEARTS... L-R: Edo State Governor, Mr. Godwin Obaseki; his wife, Betsy; Deputy Governor, Hon. Philip Shaibu; his wife, Maryann, during the Alaghodaro/ Inauguration 2020 Thanksgiving Service in Benin City…yesterday
Despite the dwindling revenues of states and their inability to effectively meet workers’ demands and other obligations, many state governments are unwilling to repeal the laws that legalised the payment of pension and other benefits to former governors and their deputies, THISDAY investigation has shown. Inquiries by THISDAY against the background of the move by the Lagos State Continued on page 10
Prominent Nigerians Mull Southern Presidential Candidates for 2023 Lobby APC, PDP to field aspirants from South Consult Obasanjo, IBB, Gowon, others Say nation’s unity, political stability non-negotiable Iyobosa Uwugiaren in Abuja With political activities over 2023 general elections gradually picking up, prominent Nigerians led by a northern elder-statesman,
are making nationwide consultation to ensure that political parties, especially the major ones like, the Peoples Democratic Party (PDP) and the All Progressives Congress (APC) field southern
presidential candidates in the race. The concern of these prominent Nigerians, according to THISDAY’s findings, is to make sure that the South – any of
South-south, South-west and South-east, produces the next president of the country in order to continue to sustain the unity of the country and douse the current burning political tension.
An insider, close to the initiative, told THISDAY that these prominent Nigerians had in the past few days met with former presidents, military Heads of States, traditional/ religious leaders of different
faiths, business moguls and other stakeholders, who were said to have bought into the idea. “The group, headed Continued on page 10
FG, ASUU's Feud Deepens, No Date for Resumption of Negotiations...Page 5