W/Bank To Address Nigeria, Poor Countries’ Debt Overhang     The President, World Bank Group, Mr David Malpass, said the group is working actively in collaboration with the International Monetary Fund on the common framework that the G20 established for dealing with debt overhang and debt burdens. He...

N50bn Hidden Debt By Amosun Govt Uncovered - Ogun Govt         The Ogun State Government says it took its diligence to discover an alleged hidden additional N50bn domestic debt left behind by the immediate-past administration of Senator Ibikunle Amosun. Abiodun said the figures given to it by...

N4.7trn Debt: AMCON Pays N2trn To CBN       The Asset Management Corporation of Nigeria (AMCON) has repaid N2 trillion out of its N4.7 trillion commitment to the Central Bank of Nigeria (CBN), its Managing Director/CEO Ahmed Kuru has said. Speaking on the corporation’s focus in his new...

‘Nigeria’s Debt Rose By N1trn Without Borrowing’       By devaluing the naira, Nigeria has added N1 trillion to her total debt without borrowing. The devaluation of the naira and an opaque revenue-generating strategy have contributed to make Nigeria’s debt unsustainable. Senior Economist with SPM Professionals, Dr. Paul Alaje,...

N1.3bn Debt: AMCON Takes Over Inducon Nigeria’s Assets         The Asset Management Corporation of Nigeria has said it took over an asset belonging to the Chief Promoter of Inducon Nigeria Limited, Dr. John Abebe, over N1.3bn debt. In a statement on Sunday from the Head, Corporate Communications...

N9.8trn Debt: FG’s CBN Borrowings May Raise Risks - Fitch Ratings       The Federal Government of Nigeria’s repeated recourse to its Ways and Means facility with the Central Bank of Nigeria highlights weaknesses in public finance management, says Fitch Ratings. Fitch Ratings stated this in its report...