FG will pay foreign debts before other obligations – CBN Governor

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As Nigerians worry about the rising debt profile of the country, the Governor of the Central Bank of Nigeria, Godwin Emefiele, has said the Federal government will ensure the payment of foreign debts before settling other obligations.

The CBN boss said this while answering questions during a press briefing at the ongoing International Monetary Fund/World Bank Annual Meetings in Washington DC.

In his words

“We have ensured that any of our debts due is given utmost priority, particularly foreign debt.

It is like first line charge, and the minister talks to me about it. And we ensure that wherever we are going to find the dollar, we would pay any of our debts, even before we service any obligation. That is a rule if it is Nigeria’s authentic sovereign debt.”

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