Tag: Debt

My friend said ‘glory be to God’ when he heard about Nigeria’s N55trn debt —  Pastor Adeboye

Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God (RCCG) has said his friend reacted to Nigeria’s debt of N55trn by saying “glory be to God”. Recounting the scenario, Adeboye during a sermon at an interdenominational church service held in Abuja to mark Nigeria’s 61st independence[Read More…]

Nigerian Government concerned about high ratio of debt servicing

The Federal Government says Nigeria’s debt servicing to revenue ratio has been higher than desirable. The Minister of Information and Culture, Lai Mohammed, said this while addressing  journalists in Lagos yesterday on the progress made by the present administration in the outgoing year 2019. He, however, said the government was[Read More…]

World Bank says debt in Emerging and Developing Economies (EMDEs) rose to a record high of $55 trillion

The World Bank Group says debt in Emerging and Developing Economies (EMDEs) rose to a record high of 55 trillion dollars in 2018. The bank made this known in a statement released in Abuja on Thursday. It explained that the development marked an eight-year surge that had been the largest,[Read More…]

Governor Ambode Inherits Huge Debts, Revokes Sale Of State Property To Fashola’s Aides, Friends

Capitalng is reporting that few weeks after Governor Akinwunmi Ambode deadweight offices and sacked the various heads of agencies created by his predecessor, Tunde Fashola, Governor Ambode has revoked all Certificates of Occupancy (C of O) of all the properties that were sold by Fashola’s administration.. Sources within the incumbent administration revealed[Read More…]

Are You Owing Any Nigerian Bank? AMCON Is About To Publish Your Names

The Asset Management Corporation of Nigeria (AMCON) on Monday asked loan defaulters to immediately square their accounts or it would publish their names in line with a directive by the Central Bank of Nigeria (CBN). The central bank in April directed lenders to give bad debtors three months to square[Read More…]

WAEC Threatens To Withhold Results Of Students In 19 States Over Debt

The West Africa Examinations Council, WAEC has threatened to withhold the results of students in 19 states that sat for the May/June 2015 WASSCE over nonpayment of candidates’ registration fees by their state governments. Different state Governments had pledged to pay the WAEC fees of their state residents as part[Read More…]

‘Lagosians Should Forget State’s Debt Profile And Focus On My Achievements’ – Fashola Sets Legacy Benchmark

By Chris Nomjov Governor of Lagos state, Babatunde Fashola has called on Lagosians to excuse the huge debt he’s leaving behind and instead focus on the achievements of his administration, during the past eight years. Fashola made the comment during an interview session with Punch newspaper, when asked about the[Read More…]

Aregbesola Is Not Alone, Rochas Okorocha Is Also Owing Teachers Salaries In Imo

by Deji Abiodun Governor Rochas Okorocha of Imo has pledged to pay the 13 months salary arrears owed primary school teachers in the state. Okorocha made the promise during the 2015 Workers Day celebrations in Owerri on Friday. In Osun State, Rauf Aregbesola is owing ALL the civil servants six[Read More…]

Breaking: FAAN Grounds Arik Air Over N1.2 Billion Debt; As Passengers Are Left Stranded

by Chris Nomjov The Federal Airports Authority of Nigeria (FAAN) has grounded all domestic flights of commercial carrier, Arik Air over the N1.2 billion debt owed by the Authority by Arik Air. The Association of Air Transport Association of Nigeria (ATTSAN) and the National Union of Air Transport Employers (NUATE),[Read More…]

Finally, Aregbesola Opens Up On Why He Has Refused To Pay Osun Workers Their Salaries After 5 Months

by PM News Governor Rauf Aregbesola of Osun on Wednesday opened up on his inability to pay the salaries of workers in the state for five months, blaming it on “declining federal allocation.” The governor made the open confession at the 7th Bola Tinubu Colloquium organised to mark Tinubu’s 63rd[Read More…]