Nigeria floats conversion of central bank loans to debt amid growing crisis

Central Bank of Nigeria
The Central Bank of Nigeria
Wikimedia/Commons/Godwin Paya

A major ratings agency downgraded Nigerian banks, days after a senior government official floated the idea of converting central bank loans to bonds.

Moody’s downgraded the outlook for Nigerian lenders on October 26, amid growing fears about the country’s fiscal capacity and debt outlook. Four days earlier, it cut its rating for Nigerian sovereign instruments.

On October 12, Nigerian finance minister Zainab Ahmed told news agency Bloomberg the country was considering a “restructuring” of its

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account