Ethiopia defaulted on the Eurobond in late 2023 and opted to rework its debt under the G20’s Common Framework initiative.
Ecobank Nigeria Ltd has completed the early repayment of more than 80 per cent of its $300 million eurobond ahead of its February 2026 maturity.
As a sign of commitment to promptly honour its debt obligations, Nigeria says it has redeemed its $300 million diaspora bond which matured on June 27.
“The Eurobond, which was issued in September 2021, was oversubscribed to the tune of $12.2 billion and was described as one of Africa’s most successful…”
President of the Senate, Ahmad Lawan, said “this is not a new law. This is a borrowing plan that we approved before for the budget 2021.’’
