Kaduna State Governor, Uba Sani has said that he inherited a huge debt burden of $587m, N85bn and 115 contractual liabilities from the immediate past administration of Nasir El-Rufai, lamenting that the huge debt has eaten deep into the state’s federal allocation. The governor, who disclosed at...
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Management of Ibadan Electricity Distribution Company (IBEDC) Plc says it was as compelled to disconnect power supply to University of Ibadan College Hospital (UCH) due to an outstanding debt. IBEDC’s Chief Key Accounts Officer, Johnson Tinuoye, in a statement issued on Wednesday in Ibadan, said that the amount...
The House of Representatives has dismissed a petition accusing the Managing Director of the Nigeria Ports Authority (NPA), Mr Bello Koko of recording a bad debt of N178 billion in the audited financial statement of the authority in 2019. A group, the Forum of Non-Governmental Organisations in Nigeria,...
By EZEKIEL OBI, Abuja – The Chief of Army Staff (COAS), Lt.- Gen.Taoreed Lagbaja, has said that corpses are decomposing in mortuaries of some barracks of the Nigerian Army owing to power outage. The Army Chief disclosed this when he visited the Minister of Power, Mr Adebayo Adelabu on...
The Minister of Power, Mr Adebayo Adelabu, says the Federal Government is committed to settling more than three trillion Naira debt it inherited in the power sector. Adelabu said this in Abuja on Wednesday when he briefed newsmen. “Today, we are owing the Power Generating Companies (GenCos) a...
By CALLISTUS OFFOR, Abuja – Former presidential aide and social critic, Mr. Reno Omokri, has revealed how former President Muhammadu Buhari destroyed the country’s economy under his 8-years tenure. NATIONAL ACCORD recalled that between 2016 and 2022, the Buhari led government raised total revenues of N26.67tn and expended...
While the explosion of debt is throwing a shadow over global economic growth, experts warn that Sub-Saharan Africa, where several countries are already in default, is experiencing its worst-ever crisis. The rise in interest rates and over-indebtedness is already crimping the ability of countries to finance their development, as...
A Federal High Court in Abuja has given former Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, until Jan. 25 to appear in court to explain circumstances surrounding the 53 million dollar-judgment debt arising from the Pars Club refund. Justice Inyang Ekwo, in a short ruling on...
Benue State Governor, Hyacinth Alia on Sunday disclosed that his administration inherited the sum of N359 billion as debt from the past administration in the state. Alia disclosed this at an interdenominational church service to commemorate Nigeria’s 63rd independence anniversary. The church service was organised by the Christian...
The Assets Management Corporation of Nigeria (AMCON) has advised the Chairman of Arik Air, Johnson Arumemi-Ikide, to present a reasonable debt recovery plan in order to recover the airline. The Managing Director of AMCON, Mr Ahmed Kuru, gave the advice at a media interactive session in Lagos State....
The Anambra Government has invited the leadership of Independent Petroleum Marketers Association of Nigeria (IPMAN) for a meeting over the claim of over N900 million debt to contractors who supplied diesel. Mr TonyCollins Nwabunwanne, Commissioner for Local Government, Chieftaincy and Community Affairs said this in Awka on Thursday...
A Federal High Court, Abuja, on Tuesday, ordered Godwin Emefiele, Governor of Central Bank of Nigeria (CBN), to appear before it on July 19 over a 53 million dollar-judgment debt arising from the Pars Club refund. Justice Inyang Ekwo, who gave the order during the hearing of a suit...
The National Industrial Court on Monday adjourned until April 24 for further report of settlement between Ahmadu Bello University (ABU), Zaria, and 110 of its dismissed employees. .When the matter slated for further report of settlement before Justice Rakiya Haasteup came up, the claimants’ counsel, Mr Femi Adedeji informed...
The All Progressives Congress (APC) has cautioned commercial banks against granting loan request by Gov. Samuel Ortom of Benue, whose tenure will end on May 29. The Director of Communications, Alia/Ode Campaign Organisation, Mr Tersoo Kula, said this in a statement on Saturday in Makurdi. Kula alleged that the...
The Niger state Ministry of Education says it has paid N433 million for the settlement of backlog debt owe to examination conducting organisations by the state. The organisation include the West Africa Examination Council (WAEC) National Examination Council (NECO), and National Business and Technical Examinations Board (NABTEB). Others are...
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) says banks’ Unstructured Supplementary Service Data (USSD) debt has increased to N80 billion from N42 billion reported in 2021. The President of ALTON, Mr Gbenga Adebayo, disclosed this during the ICT Growth Conference 2.0. organised by the Nigeria Information Technology...
Nigerian Comedian and Actor, Real Warri Pikin, sat with Chude Jideonwo, host of #WithChude and founder of Joy, Inc., to share her attempted suicide story due to a 22 million naira debt, her acting stint in King of Boys movie part one, and the fraud allegation levelled against her....
The Advertising Regulatory Council of Nigeria (ARCON) has given a Turkish company, Hayat Kimya, a seven-day ultimatum to pay the N481 million debt it owes a Nigerian media planning and buying agency, Mainsail Media Limited. The Director General of ARCON, Dr Olalekan Fadolapo, issued the ultimatum in a statement...
The Airline Operators of Nigeria (AON) have decried the alleged ‘criminalisation’ of all domestic airlines over the outstanding N19 billion debt it was alleged to owe some Federal Government’s aviation agencies. The Vice-President (V-P) of AON, Mr Allen Onyema, said this in a statement issued in Lagos on Wednesday....
Officials of the Execution Unit of the Federal Capital Territory High Court in Abuja, working with officers of the Nigeria Police Force, on Tuesday, seized vehicles belonging to Senator Andy Uba in his Abuja residence over a N50 million debt resulting from a loan he took from Oranto Petroleum...