Tags Debt

Tag: debt

MD, 7 others dragged to court over N32bn debt

In a bid to recover a debt of N32 billion owed four commercial banks, Asset Management Corporation of Nigeria, AMCON, has dragged a Lagos businessman, Samuel Adenmosun, his wife, Toluleke Adenmosun and seven other limited liability companies before a Federal High Court in Lagos, Southwest Nigeria.

AMCON drags company to court over unpaid N9.3bn debt

In a bid to recover a debt of N9,302,894,097.94, Asset Management Corporation of Nigeria AMCON has dragged a limited liability company, Ventures and Engineering Limited before a Federal High Court in Lagos, South West Nigeria.

Nasarawa Govt. clears N40bn debt – Al-Makura

Nasarawa State Governor, Umaru Al-Makura, on Wednesday said the state government had cleared more than N40 billion debt incurred before the inception of his administration in 2011.

Fayose left N155b debt, says Gov. Fayemi

Ekiti State Governor, Dr. Kayode Fayemi, on Thursday said former governor Ayodele Fayose left a total debt profile of over N155.79 billion for the...

FMBN recovers N3bn debts, records stronger result in 2018

Managing Director, Federal Mortgage Bank of Nigeria (FMBN), Ahmed Dangiwa, said the bank has recouped more than N3 billion in its loan recovery drive in 2018.

DMO, Fayose disagree over Ekiti debt profile

The Debt Management Office (DMO) has said that the immediate past administration of Mr Ayo Fayose had a debt profile of about N120 billion as at June.

African countries don’t think cooperation adds to debt – China

African leaders attending this week’s summit with China don’t think that cooperation between the continent and Beijing has added to their debt burden, the Chinese government’s top diplomat said on Thursday.

China is helping Africa develop, not stack up debt – Official

China is helping Africa develop, not pile up debt, a top Chinese official said on Tuesday, as the government pushes back against criticism it is loading the continent with an unsustainable burden during a major summit in Beijing.

Malaysia’s Mahatir blames ex PM Razak for $251.7bn debt

Malaysian Prime Minister Mahathir Mohamad on Monday, blamed previous government led by former protege Najib Razak for the one trillion ringgit (251.70 billion dollars) in debt.

Continuous accumulation of debt, not good – CSO

Mr Eze Onyekpere, Lead Director, Centre for Social Justice (CSJ), a Civil Society Organisation (CSO) says the continuous accumulation of debt was not the...

Ambode inherited N468.471bn external debt – LASG

The Administration of Governor Akinwunmi Ambode inherited external debt profile of N468.471 billion, says Lagos State Commissioner for Finance, Akinyemi Ashade.

Rasheed Alaba Williams, company dragged to court over unpaid debt

In a bid to recover a debt of N818,416,976.26, Skye Bank Plc has dragged  a limited liability company Tropical Merchants limited and  two Directors of the company, Ayinde Bakare  and Chief Radheed Alaba Williams before a Federal High Court in Lagos.

South African airline in talks with Citibank on debt

South Africa is in talks with Citibank on how to settle a 1.8 billion rand ($135 million) loan to the state airline due to end September after the lender said it would not roll over the debt again, Treasury Director General Dondo Mogajane, said on Tuesday.

Akeredolu lied, we left N20 billion debt – Mimiko

Former Governor of Ondo State, Dr. Olusegun Mimiko says the incumbent governor of the state, Rotimi Akeredolu lied that his administration left a debt of N220.6 billion.

Uber driver rescued from jumping into Lagoon over N90,000 debt

An Uber driver, identified as Hammed Olojo, 31 was on Sunday afternoon rescued by operatives of the Rapid Response Squad, RRS, on patrol of Third Mainland Bridge from jumping into the Lagoon.

Nigeria issues N32 billion debt to tighten liquidity

Nigeria's central bank sold N31.94 billion ($104.76 million) in treasury bills on Friday in a bid to tighten liquidity in the money market while overnight lending rate fell.

Access Bank, others take over Etisalat Nigeria over N541 billion debt

A consortium of banks, led by Access Bank PLC and other Nigerian and foreign banks, has taken over the management of Etisalat Nigeria, effective June 15.

Obanikoro, Coca-Cola Biker Over N96.8m Judgment Debt

A Lagos High Court sitting in Ikeja has fixed July 11, 2017 for ruling in a motion filed by Nigerian Bottling Ltd seeking to set aside a garnishee order granted against five banks in respect of a N96.8m judgment awarded in favour of Senator Musiliu Obanikoro.

Arik Air owes a debt of N375 billion

The Receiver Manager of Arik Air, Mr Oluseye Opasanya, has said the embattled airline was indebted to its trade and finance creditors to the tune of N375 billion.

N18.7 million debt forced me to attempt jumping into Lagoon-Textile dealer

Mrs Taiwo Momoh, the 58 years old woman who was rescued by the police on Friday from jumping into the Lagoon from Third Mainland Bridge to commit suicide said her indebtedness to the tune of N18.7 million to her Swiss partner forced her to want to end her life.

Lagos debt profile hits N603.25 billion, highest in Nigeria

Lagos State had the highest debt of N603.25 billion of all Nigerian states in 2016, as against its revenue of N410.5 billion.

N8.1b Debt: Court Freezes 21 Bank Accounts of Senator Stella Oduah

A federal high court sitting in Lagos south west Nigeria has restrained Senator Stella Ada Oduah and Sea Petroleum and Gas Company Limited...

N153m Debt: Court urged to wind-up Japaul Energy company

Akin Kuponiyi In a bid to recover a debt of N153million, a limited liability company AYM SHAFA Limited has filed a winding up petition against...

We have paid FAAN N18.9bn, Arik Air claims

Arik Air on Thursday claimed that it had paid a total sum of N18.9 billion to the Federal Airports Authority of Nigeria (FAAN) from...

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 to remit N4.9 trillion...

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 year, the Debt Management...

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 20 years. Lateef Adegoke, the...

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 2014, the Debt Management...

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 and Natural Gas Workers...

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 and on the verge being...

Most Read

Skip to toolbar