FG Debt Now N24.52trn, Recorded N561.71bn Deficit – CBN       The Federal Government’s outstanding as of March 31 stood at the N24.52tn (excluding the states and the Federal Capital Territory Administration), the Central Bank of Nigeria has said. The apex bank also disclosed that the Federal Government...

AMCON Takes Over Hydro Hotels Over N600m Debt     The Asset Management Corporation of Nigeria said it has taken over the assets of Hydro Hotels Limited and its chief promoter over an indebtedness of N600m. The Head of Corporate Communications Department, AMCON, Mr Jude Nwauzor, disclosed this...

Contractors Picket Finance Ministry Over N18bn Debt     Indigenous contractors on Monday staged a protest at the headquarters of the Federal Ministry of Finance, Budget and National Planning to kick against the non-payment of their N18bn contract sum by the ministry. Speaking on behalf of the aggrieved...

6.1% Economy Shrink: FG Won’t Be Able To Service Rising Debts, Fund Budget – MAN, LCCI       Key players in the nation’s economy including the Manufacturers Association of Nigeria and the Lagos Chamber of Commerce and Industry on Monday said the government may not able to...

AMCON Takes Over Jabfal Enterprises’ Assets Over N440m Debt     The Asset Management Corporation of Nigeria said on Sunday that it had taken over assets belonging to the chief promoter of Jabfal Enterprises Limited, Mr Joshua Faleye, over indebtedness of over N440m. AMCON said this in a...

Discos’ Debt To NBET Rises To N173bn     Power distribution companies in the country failed to remit a total of N173.35bn to the Nigerian Bulk Electricity Trading Plc for the electricity sold to them in the first four months of this year. The government-owned NBET buys electricity...