Tag: debt
NNPC owes FG N4.9trn not N3.2trn – RMAFC
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) said on Monday that the Nigerian National Petroleum Corporation (NNPC) was yet…
Nigeria: 35% of budget to be spent on debt servicing
Nigeria expects to spend 35 percent of its federal government revenues servicing debt this year, up from 26 percent last…
Widow, 70, arraigned for owing 20 years house rent
A 70-year-old widow, Mrs Elizabeth Adeoni, was on Wednesday arraigned in an Osogbo customary court for owing rent arrears for…
Nigeria’s debt stands at N11.2trillion
Nigeria’s total debt rose to 12.60 trillion naira ($65.42 billion) as of December 2015, up from 11.2 trillion naira in…
VIDEO/PICTURES: NUPENG protest N224m owed by LASG
The Lagos State Government on Tuesday said it would not succumb to the attempt by the Nigeria Union of Petroleum…
Obaigbena’s London TV station, Arise, shut over £3m debt
Funsho Arogundade Arise TV, London-based global news network, owned by Nigeria’s flamboyant media baron, Prince Nduka Obaigbena, has been shut…
FG owes agro dealers N73bn, forces member to sleep inside church
Agro Dealers Association of Nigeria has threatened that its members will boycott the Growth Enhancement Support (GES) scheme after it…
Lagos set to float N43bn Bond in Capital Market
Kazeem Ugbodaga The Lagos State Government is set to float a new bond of N43 billion in the Capital Market…
Alleged Contractors’ Debt: MDGs Office denies diversion of funds
The Office of the Senior Special Assistant to the President on Millennium Development Goals, OSSAP-MDGs has denied allegations of diversion…
IMF approves $28.7m credit facility for debt distressed Chad
The Executive Board of the International Monetary Fund (IMF) has on Tuesday in Dar es Salaam approved immediate disbursement of…
Fashola promises to settle Egbin Power N47b debt
Minister of power, works and housing, Mr Babatunde Fashola Friday promised to settle the N47 billion debt it owed to…
Husband incurs heavy debt, flees from matrimonial home
Cyriacus Izuekwe A Lagos customary court has dissolved a marriage between a couple, Mrs Sarah Omidiji and her husband, Julius…
N139m debt: Receiver manager takes over Italian company
Akin Kuponiyi A Federal high court sitting in Lagos, western Nigeria, has granted leave to a Lagos lawyer, Barrister Temilolu…
Nigeria gas firm to reduce supply to Ghana over $181m debt
Nigeria’s N-Gas on Wednesday threatened to reduce by 70 percent its gas supplies to Ghana’s main power generation company on…
Ireland court releases Congo plane grounded in debt row
Reuters – An airplane belonging to Democratic Republic of Congo’s new national carrier was released by an Irish court on…
More states benefit from Buhari’s relief package
States of the federation have started benefiting from the Special Intervention Fund aspect of the presidential relief package earlier approved…
A decade after write-offs, Africa sliding back into debt trap
By Ed Cropley Reuters – With their economies floundering and currencies sinking, African states that have borrowed heavily in dollars…
Nigerian firms may struggle to repay debt if dollar shortages persist
Already feeling the pinch from slumping oil prices and slowing economic growth, Nigerian companies are finding it increasingly hard to…
N1.2billion debt: AMCON seizes G.Cappa property
Akin Kuponiyi In a bid to recover a debt of N1,207,296,646.45 from G.CAPPA PLC. Construction Company, the Asset management corporation…
FAAN issues seven-day final notice to debtors
The Federal Airports Authority of Nigeria (FAAN) has given all its debtors a seven-day final demand notice to settle their…
States’ inability to pay WAEC, a national embarrassment
Stakeholders in the education sector have described the non-release of West African Senior School Certificate Examination (WASSCE) of 13 debtor…
Buhari orders action to address enormous debt in aviation sector
President Muhammadu Buhari Wednesday in Abuja expressed concern over the enormous debt profile of Nigeria’s aviation sector, saying that his…
Electricity supply to court disconnected over N250,000 bill
Cyriacus Izuekwe There was disagreement between electricity workers and court officials after the workers of the Ikeja Electricity company stormed…
Buhari advised to overhaul Nigerian oil sector, increase debt
Advisors to Nigerian President, Muhammadu Buhari have recommended a root and branch overhaul of Africa’s biggest oil industry and increased…
N658bn is the debt Nigerian states owe but the profit one man made in a day
Nigeria’s 36 states have estimated their total indebtedness, including salaries owed workers at N658 billion, about $3.3 billion. The money…
Uncompleted Projects: Ganduje inherits N105 bn debt from Kwankwaso
Governor Rabi’u Kwankwaso of Kano state has left a debt of over N105 billion meant for the payment of 2,715…
Buhari to spend N4.1trillion in first day as president – Oyegun
The National Chairman of the All Progressives Congress, Chief John Oyegun has said today that Nigeria’s president-elect, Muhammadu Buhari will…
Nigeria bedeviled by poverty, debt – Osinbajo
Nigeria’s Vice President-elect, Prof. Yomi Osinbajo, has painted a dispiriting picture of the national economy, by releasing mind-boggling statistics and…
Jang leaving only N18bn debt – commissioner
Plateau State Government on Friday said its current debt profile was N18 billion and not N200 billion as being speculated.…
Ecobank asks court to jail DMO’s DG
Ecobank Nigeria Limited has accused the Director General of the Debt Management Office, DMO, Mr. Abraham Nwankwo, of frustrating its…