Eurobonds

The Central Bank of Nigeria on Wednesday raised concerns over the increase in foreign currency exposures among Nigerian banks. In a bid to manage risks and prevent potential losses with systemic implications, the CBN issued stringent lending requirements for commercial banks. The requirements are contained in a circular addressed to all banks and signed by the duo of the apex bank’s Director of Trade and Exchange, Hassan Mahmud, and the Director of Banking Supervision, Rita Sike. The bank expressed worry over the…

The markets for the world’s safest and most liquid assets, the government bonds issued by the U.S. and other rich countries, are coming under immense stress on Wednesday following a week of worries about the health of global banks. Liquidity, the capacity to trade quickly at quoted prices, has fallen sharply in two of the keystone markets, those for U.S. Treasurys and German bunds, traders said. Difficulties in trading are now spreading to many other markets, including those for derivatives that firms and traders use to…

Nigeria’s Eurobonds fell Thursday following a declaration by Minister of Finance Zainab Ahmed in a Wednesday video that the government would review and consider restructuring its portfolio of debt. With the commitment to repay some local debts falling due in 2022 and the year ahead, refinancing, the government says, is the way to go, and it is setting sights on converting the N20 trillion it owes the Central Bank of Nigeria into bonds. “For the larger portfolio of debt, we have just appointed a consultant,” Mrs…