Debt Archives — City Business News

March 21, 2024 No Responses

CBN Clears FX Transactions Backlog

The Central Bank of Nigeria (CBN) has cleared all valid foreign exchange backlogs of s$7 billion, fulfilling a key pledge of its Governor, Mr. Olayemi Cardoso. In a statement on Wednesday, the apex bank’s Acting Director, Corporate Communications, Mrs Hakama...

January 8, 2024 No Responses

CBN Disburses $61m To Settle Foreign Airlines’ Trapped Fund

The Central Bank of Nigeria (CBN) has disbursed 61.64 million dollars to foreign airlines through various Deposit Money Banks (DMBs). According to a statement issued by its Acting Director, Corporate Communications, Mrs Hakama Sidi-Ali on Sunday, the disbursem...

March 27, 2023 No Responses

Court Blocks Oyo State Govt’s Accounts In Four Banks Over N3.4b Debt

A High Court of the Federal Capital Territory (FCT), Abuja has issued an order attaching funds standing to the credit of Oyo State Government and its agencies in four banks. Justice A. O. Ebong issued the order while ruling on...

November 2, 2022 No Responses

World`s Ten Most Indebted Countries

Covid-19 has pushed many states’ debts above annual income, causing the global government debt to reach new record highs. According to the S&P Global Ratings report, the combined debt of all governments worldwide is expected to climb by 9.5% ...

July 30, 2022 No Responses

Innoson Sues Imo Govt Over N2.5b Debt

Innoson Vehicle Manufacturing Company has filed a lawsuit against the Imo State Government over its failure to pay a N2.54 billion debt owed to the firm. Head, Corporate Communications, Innoson Vehicles, Cornel Osigwe, in a statement on Friday ...

July 19, 2022 No Responses

DMO Raises N123b In July FG Bond Auction

The Debt Management Office (DMO) has raised N123.85billion in its July Federal Government of Nigeria (FGN) bond auction. A statement issued by DMO on Monday explained that the three instruments auctioned were valued at N75 billion each, totalling N225 bi...

June 28, 2022 No Responses

Railway Fencing: Contractors Protest Over Non-Payment Of N500m Debt

The Abuja-Kaduna Railway Fencing Sub-Contractors Association on Monday, in Abuja protested over the non-payment of N500 million debt owed them by Deux Projects Limited since 2018.The association’s spokesman, Mr Onyeka Enechuku, said the angry contractors wer...

February 15, 2022 No Responses

Gombe IRS Seals Access Bank Over Alleged N118m Tax Default

The Gombe State Internal Revenue Service Board has sealed two branches of Access Bank in the state capital over alleged N118 million unpaid taxes between 2008 – 2019. Speaking to Journalists on Monday in Gombe, the Chairman of the Board,...

December 23, 2021 No Responses

NCAA Shuts Glo Station Over N4.7b Debt

The Nigeria Civil Aviation Authority has shutdown main switch centre of Globacom Limited at Wuse 2, Abuja over non-payment of outstanding debt of N4.7 billion. The NCAA Director–General, Capt. Musa Nuhu, carried out the exercise on Wednesday, under the...

October 27, 2021 No Responses

Bayelsa To Borrow N43.57b As Debt Hits N169b

The Bayelsa State Government plans to borrow N43.57 billion to augment the N310.7 billion proposed for the 2022 fiscal year as the state’s debt profile hits N169 billion. The borrowing plan is contained in the 2022 Appropriation Bill of the...

May 16, 2019 No Responses

CBN: Nigeria’s Outstanding Domestic Debt Stands At N12.4b

The Central Bank of Nigeria (CBN) on Wednesday said the country’s outstanding domestic debt stood at N12.44 billion as at December 2018. This was contained in the bank’s 2018 Annual Activity Report released by the Financial Markets Department, CBN, and...

December 11, 2018 No Responses

Bi-Courtney: MMA2 Not Indebted To FAAN

Bi-Courtney Aviation Services Limited (BASL), operators of the domestic wing of Murtala Muhammed Airport Terminal Two (MMA2), Ikeja, Lagos, has denied owing the Federal Airports Authority of Nigeria (FAAN) about N1, 943,323,516.50. BASL, in a statement on Mond...

March 14, 2018 3 Responses

Nwankwo Tasks African Countries On Economic Transformation Through Debt Financing

Former Director General of the Debt Management Office (DMO) in Nigeria, Dr Abraham Nwankwo, has advised African leaders to initiate robust macroeconomic, transformation plans to drive debt-financed sustainable economic growth and prosperity. Speaking on the ...