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West African central bank cancels Niger $51m bond issuance due to sanctions

Niger Mohamed Bazoum

General Abdourahmane Tchiani (second from right), who was declared Niger's new head of state by leaders of a coup, arrives to meet with ministers in Niamey, Niger on July 28, 2023 [Balima Boureima/Reuters]

A planned 30 billion CFA franc ($51m) bond issuance by Niger scheduled for Monday in the West African regional debt market has been cancelled by the Central Bank of West African States (BCEAO) following a coup, market sources said.

At an emergency summit in Nigeria, the 15-nation Economic Community of West African States (ECOWAS) regional bloc demanded on Sunday that Niger’s President Mohamed Bazoum, who was ousted from power last week, be reinstated within a week.

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