Nigeria’s Debt Hits N38trn, Rises By N2.54trn In Three Months - DMO   The Debt Management Office on Tuesday disclosed that Nigeria’s public debt was N38.005tn as of the end of the third quarter of 2021. In a press statement titled, ‘DMO publishes total public debt for...

Jimoh Ibrahim Loses Appeal Against AMCON Over N69.4bn Debt     The Court of Appeal Lagos Division has dismissed an appeal by the Chairman of Global Fleet Group, Jimoh Ibrahim, challenging the Asset Management Corporation of Nigeria (AMCON)’s seizure of his 12 assets and freezing of all his...

Nigeria’s Debt To GDP Still Low Says Finance Minister   The Minister of Finance, Budget and National Planning, Zainab Ahmed has reiterated that Nigeria’s debt to gross domestic products (GDP) ratio is still low at 33 per cent amidst concerns over heightened increased borrowing. She said this...

Reps Threaten Bank With Takeover Over Debt   The House of Representatives, on Thursday, threatened that it will ask the Central Bank of Nigeria to take over the ownership of Heritage Bank of Nigeria for owing the Federal Government more money than its entire share capital. The...

NCAA To Decommission 7,012 Masts Over N5.96bn Debt   The Nigeria Civil Aviation Authority (NCAA) has again threatened to decommission telecommunication masts belonging to operators that are indebted to the regulatory body. Worst hit will be Globacom Nigeria Limited; whose alleged debt of N5.96 billion has put...

Nigeria’s Debt Service To Revenue High – AfDB President   President of the African Development Bank (AfDB), Akinwumi Adesina has said Nigeria’s debt service to revenue ratio is high. Adesina who made the disclosure yesterday at the opening of a two-day mid-term ministerial performance review retreat in...