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Vol 41 No 9

Published 28th April 2000


Nigeria

Promises, promises

Two new rows are brewing about Nigeria's debt. One concerns the whereabouts of some US$700-800 million of Nigerian promissory notes. Although the International Monetary Fund says that there are just $1.5 billion worth of Nigerian promissory notes still valid, a reliable creditor source has told Africa Confidential that the Central Bank of Nigeria (CBN) is paying interest on some $2.2 bn. to $2.3 bn. worth of notes.

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