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debt

14 Sep 2019
Spurious overpriced contracts without recourse to due process have been blamed for the over N1 trillion debt profile of the Niger Delta Development Commission (NDDC). Nothing else typifies this more than the N60 billion emergency contracts awarded within five months by the immediate past board of the commission.
8 Sep 2019
The Department of Outdoors Advertisement & Signage [DOAS] has commenced de-registration of all Outdoor Advertising Agencies operating in Abuja, due to N2.1b debts owed the Federal Capital Territory (FCT) administration. The agency has since commenced the pulling down of signages and signposts across the territory. Director of the agency, Dr. Babagana Adam, who disclosed this yesterday, while…
6 Aug 2019
Following the order of Hon. Justice B.F.M. Nyako of the Federal High Court Asset Management Corporation of Nigeria (AMCON) has taken over Bao Yao Futurlex Iron & Steel Company Limited in Abuja and Bao Yao Huan Jian Iron & Steel, Calabar, Cross River State.
31 Jul 2019
To ensure the effective recovery of over N5 trillion being outstanding debts owed to the Asset Management Corporation of Nigeria (AMCON), a new task force has been set up to get the job done without fail.
1 Jul 2019
Governor Seyi Makinde of Oyo State has threatened to reveal how the administration of former Governor Abiola Ajimobi allegedly ran the state into debt, if the ex-governor and his All Progressives Congress (APC) continued to disturb him. Makinde, who spoke during a media chat to mark his first 30 days in office, revealed that the…
5 May 2019
The Central Bank of Nigeria (CBN) and 14 other banks out of the 17 ordered by an FCT High Court to show cause why plea for garnishee of alleged accounts operated by Imo Government should not be made absolute, had denied overseeing the state’s accounts. The denials were contained in the respondents briefs filed by…
17 Apr 2019
The Federal Airports Authority of Nigeria (FAAN) has again threatened to withdraw both aviation security and firefighting personnel from some airports over debt in excess of N2.6 billion beginning from May 1. The fresh warning is coming after an earli­er notice was issued last December to private and state-owned aerodromes, though was later suspended due…
17 Apr 2019
It was a bright cold day, the other day, the morning sun gleams alluringly. Such is the day Nigerians from all walks of life enjoy to see and be happy about. It enables farmers to work on their farm land like giants. Traders enjoy the cool atmosphere as a form of ease of doing business.…
6 Nov 2018
According to a report by Spanish publication, Marca, a judge in Brazil has reportedly ordered for football legend Ronaldinho's passport to be seized over unpaid debts of 0f 828 million naira [£1.75million]. It is gathered that authorities were left shocked after they found a total of just two thousand naira [£5.24] in Ronaldinho's bank accounts.…
3 Sep 2018
A governorship aspirant in Imo State Frank Nneji, at the weekend expressed worries over the N93 billion debt profile of the state. Nneji, who is Chief Executive Officer and Managing Director of ABC Transport, promised to institute the Imo First Policy if elected governor of the state next year. Nneji, who is aspiring to run…
27 Jun 2018
US sovereign debt is approaching historically high levels and in three decades debt service will cost as much as Social Security spending, the Congressional Budget Office reported Tuesday. The annual projections from the independent congressional body drew a grim picture of America's fiscal situation, forecasting that interest costs as a share of GDP will double…
18 Jun 2018
Chairman of the Peoples Democratic Party (PDP) in Ekiti State, Gboyega Oguntuase, has said that servicing debts incurred by ex-governor Kayode Fayemi has cost the state N35.34 billion. He said the debts and deductions from statutory allocations, which started from 2010 to 2014, have continued till date. Oguntuase said the state is servicing the debts…

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