FG’s N22trn Ways And Means Borrowing From CBN Forces Moody’s To Downgrade Nigeria’s Credit Worthiness To Very High Risk

Nigeria’s debt rating has been downgraded by United States-based Moody’s investors over the country’s revenue woes and excessive funding through the Central Banks’ ways and means.

Moody’s downgraded the Federal Government’s long-term foreign-currency and local-currency issuer ratings as well as its foreign currency senior unsecured debt ratings to Caa1 from B3.

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