DMO Promises Not To Exceed 2023 Borrowings As FG Borrows N2.13trn In Two Months The Debt Management Office (DMO) has assured that it will not exceed the legally approved new borrowing in the 2023 Appropriation Act. The DMO was reacting to a report that the Federal...

NCAA Threatens To Withdraw Airlines’ Licences Over N46bn Debt   The Nigerian Civil Aviation Authority (NCAA) on Tuesday, said it would withdraw the licenses of domestic airlines within 30 days beginning from August 30, 2022, if the airlines fail to sign a Memorandum of Understanding on...

Nigeria’s Debt Hits $100bn, Stakeholders Express Concern   Stakeholders at the African Conference on Debt and Development (AFCODD) have raised concerns about Nigeria’s rising debt profile as the country’s debt stock stood at $100billion as of March 2022. A breakdown by the Debt Management Office (DMO) revealed...

Undisbursed Loans Raise Nigeria’s World Bank Debt To $21.15bn   Undisbursed loans may drive Nigeria’s debt to the World Bank from $12.72bn to $21.15bn. This shows that the yet-to-be disbursed loans can increase Nigeria’s debt to the lending institution by 66.27 per cent. The audited financial statements of...

NBC Shuts AIT, STV Others Over N2.6bn Debt The National Broadcasting Commission, on Friday, directed the African Independent Television, Silverbird Television and the broadcasting corporations run by various state governments to shut down their operations within the next 24 hours over debts amounting to at...

Nigeria’s Debt To World Bank Increases By $660m The total debt owed to the World Bank Group by Nigeria rose by $660m in the first six months of 2022. This is according to data from both the Debt Management Office and the financial statements of the...