AMCON Takes Over Cedar Oil & Gas Over N24bn Debt   Asset Management Corporation of Nigeria has taken over the operations of Cedar Oil & Gas Exploration and Production Limited on the orders of a Federal High Court sitting in Lagos. The application for the takeover came...

Buhari Administration Met $63.81bn Debt - DMO   The Debt Management Office on Monday said the President Muhammadu Buhari administration met a debt stock of $63.81bn when it came into office in 2015. The DMO was responding to a claim that Buhari inherited a debt stock of...

In 8 Months, Gencos Incur N362bn Debt   Power generation companies are owed a total of N361.67bn by the Nigerian Bulk Electricity Trading Plc for electricity generated, sold and fed into the national grid from January to August this year. The government-owned NBET buys electricity in bulk...

Nigeria’s Debt Rises To $84bn Under Buhari - PRP   Malam Falalu Bello has raised the alarm over skyrocketing debt profile under President Muhammdu Buhari, rising from $10 billion in 2015 to $84bn. Bello was at different times the managing director of Unity, Habib and Intercity...

Nigeria Set to Overturn P&ID’s $9.6bn Claim …As UK Court okays FG’s Plea   The Nigerian Government has moved closer to overturning the US$9.6 billion judgement debt awarded against it in favour of Process and Industrial Development Limited (P&ID) by a United Kingdom court in what is...

AMCON Solicits Judiciary’s Support To Recover N5.4trn Debt   the Asset Management Corporation of Nigeria is seeking the support of the judiciary to recover over N5.4tn debt owed the corporation by chronic debtors. The Managing Director/Chief Executive Officer, AMCON, Mr Ahmed Kuru, said this at the 2019...