Pensioner Bonds: Govt promises to clear all 5 outstanding coupons immediately

The Government has through the Ministry of Finance promised to immediately clear all five outstanding coupons owed to pensioner bondholders.

The government has also agreed to pay all outstanding principals in two weeks.

The decisions follow a meeting Friday between officials of the Ministry of Finance and leadership of the Pensioner Bondholders’ Forum.

The parties have scheduled another meeting, this time with all members of the Forum, to convince them to back down on their call for interest payment on all accrued principals between February and May 2023.

This meeting is expected on Thursday, June 8, 2023, at 9 am.

Members of the Forum are insisting that the government pays interest on all principals it has been holding for the past four months.

The government has failed to pay the Bondholders four principals which have matured within the period of February to May and their leaders said the principals constitute investment capital and the only thing for the government to do is to pay interest for the days that the funds have been held.