Business Headline News

Nigeria has not defaulted in Chinese loan repayment-DMO

The Debt Management Office, DMO has said Nigeria has not defaulted on the repayment of its Chinese loans.

In a statement, the DMO said claims by some media publications that the country had defaulted in its loan repayment with accumulated penalties at N41.3 billion were false and misleading.

The Debt Management Office gave an assurance that Nigeria is fully committed to its debt obligations and has not defaulted on any of them.

It therefore urged the public to ignore the publication. 

Writing by Biodun Dare; Editing by Annabel Nwachukwu