Tag Archives: debt

AMCON has recovered over N1 trillion from debtors- MD

The Managing Director, Ahmed Kuru, of Asset Management Corporation of Nigeria (AMCON) says the agency has recovered over N1 trillion from debtors. He made this remark  during a visit by the Leadership of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to him in Abuja. He noted that the corporation has resolved over 5,000 business relationships. According to ...

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IMF may grant credit facilities to Nigeria, others

The International Monetary Fund (IMF) has not foreclosed granting credit facilities to Nigeria and other emerging economies within its membership, it was learnt recently Speaking during an online media parley in Washington DC, United States (U.S.), the IMF said the facilities would come through its financial safety nets. According to the IMF, the loans are to protect member countries from ...

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Fuel crisis may worsen as marketers demand N800bn debt

The Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Products Marketers Association (DAPPMA) have notified the federal government that the debt of N800 billion owed to their members have almost crippled their businesses and stands to worsen the ongoing fuel crisis in the country. The situation, they added, also threatens 30,000 jobs in the downstream sector. The ...

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Bill Gates to pay Nigeria’s $76m debt

Nigeria has authorised Bill and Melinda Gates Foundation to start the repayment of $76 million polio eradication loan to Japan. The Minister of Finance, Kemi Adeosun, made this known, in Abuja, on Tuesday, when she received a delegation of Japanese House of Councillors. She said that the delegates were in Nigeria to assess the level of usage of Overseas Development ...

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Nigeria suffering from broken public finance — Soludo

Former governor of the Central Bank of Nigeria (CBN), Chukwuma Soludo, has said that the nation’s economy was suffering from a broken public finance and needed an urgent strategy to fix it. In an interview. in Nsukka, Enugu State, Soluda said that the bloated recurrent expenditure of the federal government required a courageous action to balance the capital/recurrent budget provisions. ...

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Nigeria floats $3bn dual-tranche bond

The Federal Government on Monday announced that it had floated a $3 billion dual-tranche bond. It said that the pricing of the $1.5 billion 10-year and $1.5 billion 30-year notes were under its Global Medium Term Note programme

. The Federal Government said that it had priced the offering of the $3 billion aggregate principal amount of dual series notes under ...

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Economic experts slam FG’s proposed $5.5bn loan for infrastructure development

Economic experts on Monday expressed concern over the Federal Government’s intention to borrow 5.5 million dollars to fund some capital projects captured in the 2017 Budget. President Muhammadu Buhari presented a four-page letter to the Senate which showed that the proposed borrowing was for the implementation of the external borrowing approved in the 2017 Appropriation Act. However, this is not ...

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