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....
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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...
The Debt Management Office (DMO), says Nigeria does not face the risk of experiencing “debt distress” due to its 15.9 billion dollars Eurobonds. The News Agency of Nigeria (NAN) reports that the 15.9 billion dollars Eurobond is the foreign component of the debt Nigeria owes. The DMO said this...
Mr Victor Ekpo, Managing Director, Cross River Water Board, says that N1.2 billion debt being owed to the utility company by customers have affected its service delivery to the people. Ekpo who stated this while addressing newsmen in Calabar on Tuesday, also spoke on a wide range of issues...
The FCT Administration, on Tuesday sealed the Federal Ministry of Works, Federal Character Commission and Merit House Maitama over N10 billion waste collection debt owed Abuja Environmental Protection Board (AEPB). Addressing newsmen during the exercise, the Director of AEPB) Mr Osilama Briamah, said the board provided waste management and...
The Governors of the 36 states of the federation have appealed the Federal High Court judgment which dismissed their suit challenging the planned deduction of $418 million from the Federation Account. The money is meant to settle debts owed consultants engaged by state and local governments on the Paris...
The House of Representatives ad-hoc Committee on the recovery of outstanding debts owned the Federal Government by Oil and Gas companies in Nigeria, has invited the Nigeria National Petroleum Corporation (NNPC) and many others for investigation. Others invited include the Niger Delta Development Commission (NDDC), Federal Inland Revenue (FIRS),...
By BENJAMIN ORISEMEKE, Abuja – The Power Generation Companies (GENCOS), Sunday, alleged that the Nigerian Bulk Electricity Trading (NBET) owed them over N1.644 trillion. According to the GenCos, the debt is the amount for stranded or unutilized power from 2015 till date. The companies in response to the statement...
The Federal High Court, Abuja, granted a garnishee order absolute, on Central Bank of Nigeria (CBN) to release N81.9 billion to Ibeno Local Government Area of Akwa Ibom. The money is standing to the credit of the Nigerian National Petroleum Corporation (NNPC) and it’s joint venture partner, Mobil Producing...
By JOY ADARA, Abuja – Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the government of President Muhammadu Buhari over the alleged “secrecy in the spending of loans so far obtained, the unsustainable level of borrowing by the government and the 36 states, debt crisis, and...
A total of $3.53bn has been paid by the Federal Government to five international oil companies as cash call arrears repayment to the IOCs, leaving an outstanding balance of $1.15bn. Latest status report on the Pre-2016 Cash Call Arrears Repayment to the IOCs as at October 31, 2021, seen...
The Federal Government’s bond offer and allotment rose by N1.99tn in the first six months of this year to N13.66tn, from the N11.67tn recorded in the corresponding period of last year. The Financial Markets Department of the Central Bank of Nigeria disclosed this in its half-year activity report for...
The Nigeria Civil Aviation Authority has shutdown main switch centre of Globacom Limited at Wuse 2, Abuja over non-payment of outstanding debt of N4.7 billion. The NCAA Director–General, Capt. Musa Nuhu, carried out the exercise on Wednesday, under the supervision of the Minister of Aviation, Sen. Hadi Sirika. Nuhu...
PATRICK ABANG, Calabar – Chairman of the Cross River State Chapter of the All Progressives Congress (APC), Alphonsus Ogar has hinted that the Ayade-led administration inherited a whopping sum of 400 billion naira debt from his predecessors. Mr. Oga disclosed this during an interactive session with journalists in Calabar...
A Federal High Court, Abuja, has threatened to grant an Asset Management Corporation of Nigeria (AMCON) suit, seeking an order to freeze the Adamawa State Government’s salary accounts over inability to pay back N84 million loan six years after borrowing. Justice Inyang Ekwo, in a ruling, gave the state...
The House of Representatives has ordered an immediate investigation into debts totalling N2.6 trillion allegedly owed the Federal Government by oil and gas companies operating in the country. A report by the Extractive Industries Transparency Initiative (NEITI) which contains the figure, said to be accruals from “failure of the...