Banks, Telcos Settle N300bn USSD Debt Dispute After 4 Years
Banks and telecommunications operators in Nigeria have ended a four-year dispute over nearly N300bn owed for Unstructured Supplementary Service Data services, with the debt now fully cleared, the Association of Licensed Telecommunications Operators of Nigeria...
AMCON Clears N3.6trn Debt to CBN, Targets N215bn Recovery for 2025
The Asset Management Corporation of Nigeria (AMCON), the government-owned agency established in 2010 to stabilize and revitalize the Nigerian financial system, recovered N156bn from debtors in 2024 while targeting a recovery of N215bn before...
NDPHC Commends Tinubu Over N4trn Bond Approval for GenCos' Debt Settlement
The Managing Director of the Niger Delta Power Holding Company (NDPHC) Jennifer Adighije, has commended President Bola Tinubu for his administration’s commitment to revamping Nigeria’s power sector, following his recent approval of a N4tn...
N5.6trn Debt Threatens Energy Supply as Gas Firms Cut Supply
Nigeria faces the threat of nationwide blackouts as gas companies reduce their supply to power plants due to an outstanding N5.6 trillion debt owed to power generation companies.
The development has raised concerns about the stability...
Speaker of the House of Representatives, Dr. Abass Tajudeen, has expressed concern over Nigeria’s public debt profile, which was ₦149.39 trillion, approximately US$97 billion, as of the first quarter of this year. Domestic borrowing accounts for 53 per cent, while external borrowing makes up 47 per cent.
FG Clears N2trn Contractor Debt, Plans 2025 Capital Budget
The Federal Government has cleared over N2tn in outstanding capital budget obligations from the 2024 fiscal year, with a pledge to prioritise the timely release of 2025 capital funds.
The Minister of Finance and Coordinating Minister of...
