Fed Govt Owes Five IOCs $1.15bn Cash Call Arrears, Clears $3.53bn Debt   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...

NERC: Togo, Benin Q2 Electricity Debt To Nigeria Hits N770m   The Nigerian Electricity Regulatory Commission (NERC) says the Republic of Benin, Niger Republic, Togo did not pay N770 million electricity bill owed Nigeria in the second quarter of 2021. The commission disclosed this in its second-quarter...

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...