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Unclaimed dividend, dormant account Special Trust Fund available to owners — Finance Minister

FG suspends plans to borrow $22.7bn

The Minister of Finance, Mrs. Zainab Ahmed, yesterday, disclosed that the Federal Government has suspended its $22.7 billion external borrowing plans due to current realities in the global economic landscape driven by the fall-outs of the Coronavirus (COVID-19) pandemic.

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To borrow or not to borrow?

THE issue of sustainability of Nigeria’s debt service burden, has returned to the forefront of public discuss in recent years. Instructively, after the controversial, stupendous payment of almost $20bn, to exit a $30b oppressive debt overhang, owed primarily, to a consortium of London and Paris creditors by 2005; Nigeria’s total debt, has rapidly climbed again to well over $60bn, from less than N1trillion domestic and just over $3bn, external debt in 2006.

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Funding gaps: 15 manufacturing companies borrow N418bn from banks

AT the backdrop of funding exigencies and inability to raise longer term and cheaper capital from the capital market, top 15 companies in the manufacturing sector, listed on the Nigerian Stock Exchange, NSE, were compelled in 2016, to seek expensive and short term bank loans to bridge funding gaps. Thus, they spent N127 billion servicing about N418 billion loan they borrowed.

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Who is afraid to borrow?

WHEN we hear some Christians praying that God should make them lenders and not borrowers, we think they are short-changing themselves and restricting their chances to smaller opportunities, for in today’s world, most viable projects are financed on borrowed money.

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