Tag: Debt
-
Banks remove $1.2b 9Mobile debt from records
The 12 banks involved in the $1.2 billion 9Mobile loan are setting aside a large part of the debt from their books ahead of the December 31 end-date for the fiscal year. The mobile company took the loan four years ago from a consortium of banks. It failed to repay the loan due to a…
-
AMCON, EFCC collaborate on recovery of N4.6bn debt nationwide
The Asset Management Corporation of Nigeria (AMCON) says it is collaborating with the Economic and Financial Crimes Commission (EFCC) as strategy to recover N4.6 billion from debtors across the country. The corporation said this in a statement issued after a meeting with the management of the EFCC on Thursday in Lagos. It said the decision…
-
Nigeria’s debt rises by N7.1tn in two years
The nation’s total indebtedness to foreign and local creditors now stands at N19.16tn, the Debt Management Office has said. This is N1.8tn increase from the N17.36tn recorded at the end of December 2016. As of March 31, 2015, the country’s total debt stood at N12.06tn. This means the debt level increased by N7.1tn in two…
-
Nigeria’s debt profile now $57.39bn — DMO
The Debt Management Office, DMO, on Sunday said the nation’s total debt profile currently stood at $57.39 billion. Director-General of DMO, Dr. Abraham Nwankwo disclosed this when he appeared before the Senator Shehu Sani’s Committee on Foreign and Local Debts to defend his agency’s budget proposal. The DG said the total debt stock comprised external…
-
More facts on AMCON’s aquisition of Arik Air
The Asset Management Corporation of Nigeria,yesterday took over the operations of, Arik Air, and appointed Capt. Roy Ukpebo Ilegbodu as its new manager. TheNewsGuru.com gathered that the embattled airline was indebted to alone to the tune of over N300bn, with AMCON alone owed N135bn. Officials of the aviation arm of the Federal Ministry of Transportation…
-
Controversial OAP, Freeze exposes lady indebted to him
Cool Fm’s controversial presenter, Freeze has called out Kiibati Bankole a sports presenter on Instagram asking her to pay up the debt owed him. Daddy Freeze who has been trying to reach her to no avail decided to call her out on social media. He said she has been ignoring his calls, text messages which…
-
Ekiti civil servant commits suicide over unpaid salary, accumulated debts
Tragedy struck in Ao Ekiti, the Ekiti State capital on Thursday as a civil servant Tope Afolayan, said to be on Level 12, committed suicide over unpaid debt. Afolayan, a native of Oye Ekiti, worked in the office of the Accountant General of the State until the incident happened last Thursday. He is survived…