With lower oil price, Obasanjo paid our foreign debts – Atiku
Says It’s delusory to borrow $6.9 billion now By Atiku Abubakar BEFORE the novel coronavirus pandemic hit the globe, Nigeria spent 42 per cent of her earnings on debt servicing. We have arrived at a new reality today: Even if we devote 100 per cent of our income to rebuilding our economy, it still will […]
Some public debts yet to be captured — Finance Minister, Ahmed
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Thursday, said there were debts owed by states and government enterprises that had not been captured. Ahmed made this known during a panel discussion on Debt Transparency at the ongoing World Bank/IMF Annual Meetings in Washington, United States. This revelation is coming two […]
The world mustn’t sleep-walk into another debt crisis
TRADE wars, protectionism, and nationalist rhetoric are combining to create the possibility of a nightmare debt crisis that could be worse than any previously experienced. Global borrowing is now at the highest levels since the 1950s – and history suggests we should take this as a warning that a debt crisis could be looming. Were one to materialise, it could inflict greater dislocation on international financial systems and national economic stability than ever previously witnessed.
Breaking: Nigeria owed N25.7trn debt as at June 30 — DMO
The Debt Management Office (DMO), says as at June 30, Nigeria owes N25.7 trillion in debt both domestically and externally.
$9.6bn judgement debt: FG to push for abrogation of huge cash award
Insists P&ID has no presence anywhere How project failure affected Addax’s plan to end gas flaring By Soni Daniel & Udeme Akpan As Nigeria goes on appeal to set aside the huge cash awarded by a British commercial and arbitration court to an offshore compaany over a botched gas supply contract, indications emerged, weekend, that […]
UPDATE: Banks to seize debtors’ deposits for loan repayment
To create N1trn new loans through LDR directive By Babajide Komolafe The Bankers Committee yesterday introduced a lending condition that empowers banks to seize and use bank deposit of debtors in any bank for loan repayment. Deputy Governor, Financial Sector Surveillance, CBN, Mrs Aisha Ahmad, disclosed this at a press conference after the Bankers Committee meeting […]
