Nigeria to pay $4 bln extra in 2023 if lawmakers reject loan-bond swap – president
FELIX ONUAH NIGERIA will pay 1.8 trillion nairas ($4 billion) extra interest in 2023 if parliament rejects a loan-to-bond swap request on the central bank's overdrafts to the government, President Muhammadu Buhari said after signing the 2023 budget into law. The Senate last week delayed a decision on the president's request to convert $53 billion worth of central bank overdrafts to the government into 40-year bonds after some lawmakers questioned the plan. In a speech on Tuesday, Buhari said the government currently pays a 3% margin above the central bank's lending rate of 16.5% but his administration has negotiated a rate of…