Nigeria’s Debts May Rise Above N60trn By Q1, 2021       Nigeria's debts may rise above N60 trillion by the end of first quarter following a move by the Federal Government to convert its N11.91 trillion indebtedness to the Central Bank of Nigeria (CBN) to formal securitised...

NCAA To Sanction Airlines Over N22bn Debts       Nigerian Civil Aviation Authority (NCAA) has concluded plans to embark on recovery of over N22 billion owed aviation agencies by indigenous carriers in the last 20 years. The move by the regulatory body would lead to disruption in air...

FAAN Disrupts Airlines’ Operations Over Debts       The Federal Airports Authority of Nigeria (FAAN) recently disrupted the operations of airlines indebted to the agency by delaying the operations of two airlines at the Nnamdi Azikiwe International Airport, Abuja. FAAN officials closed the counters of the two...

NNPC Reduces Debts To IOCs To $1.58bn, Pays Off Mobil       Out of about $4.6 billion negotiated joint venture (JV) oil production debt Nigeria was owing international oil companies (IOCs), about $3.02 billion has been paid by the Nigerian National Petroleum Corporation (NNPC), leaving about $1.58...

13 States Technically Insolvent, Debts Rise 163%       Thirteen States in Nigeria may have become technically insolvent as an independent research report indicated they failed fiscal sustainability test. According to the research conducted by BudgIT, a public sector-focused financial information house, the states’ revenues could not fund...

Finally, FG To Deploy Revenue Directors To Lucrative Agencies       Pressured by dwindling revenues and heavy debt burden, the Federal Government on Tuesday moved to boost its resources by directly taking over control of revenue management of its 10 most lucrative enterprises. The 10 government-owned enterprises (GOE)...