The Asset Management Corporation of Nigeria (AMCON) has taken over Sea Petroleum Oil & Gas Ltd. and other assets belonging to Sen. Stella Oduah-Ogiemwonyi over an unpaid debt of about N20 billion. AMCON said the takeover followed an injunction granted by Justice M.S. Hassan of the Federal High Court, Lagos against Sea Petroleum Oil & […]
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The Osun State Internal Revenue Service on Wednesday sealed the Administrative Bock of Obafemi Awolowo University (OAU), Ile-Ife, over a N1.8 billion tax debt. The News Agency of Nigeria (NAN) reports that the officials of the service, who came with policemen and NSCDC personnel, put the gates of the block under lock and key after […]
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Oil marketers have commenced a reduction of their workforce due to their inability to pay staff salaries, the News Agency of Nigeria (NAN) reports. Some of the marketers, who preferred anonymity, confirmed to NAN on Wednesday in Lagos that they resorted to adopt a massive sack of their workers as the Federal Government had yet […]
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Senator representing Kogi West, Dino Melaye, has accused the All Progressives Congress (APC) under President Muhammadu Buhari of accruing a debt of N11 trillion in three years. He noted that the the Peoples Democratic Party (PDP) only borrowed N6 trillion in 16 years. Melaye said this while speaking at the upper legislative chamber on Wednesday. […]
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The Asset Management Corporation of Nigeria (AMCON) on Tuesday took over the assets of Daily Times Nigeria Plc, a foremost media establishment over huge outstanding loan. The corporation in a statement signed by its Head, Corporate Communications, Mr Jude Nwauzor, said that the take over was in continuation of AMCON recovery activities in the new […]
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The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Sunday called on the Federal Government to settle all debts owed oil marketers to engender growth of the oil and gas industry and develop the nation’s economy. The union made the call against the backdrop of threat by the marketers to embark on […]
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Nigeria’s public debt stock for both the Federal Government and the states as at June 30 stood at N19.63 trillion, a document by the Debt Management Office (DMO) says. The document was obtained from the DMO website on Monday in Abuja. Giving a breakdown of what each tier owed, it said the external debt stock […]
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Etisalat Nigeria says it had paid about 42 percent of its original loan, taken from a consortium of banks, is not being investigated by the Economic and Financial Crimes Commission (EFCC) as a result of any petition. In a statement signed by Ibrahim Dikko, Etisalat vice-president of corporate affairs, the telecom company said it is […]
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Etisalat Nigeria sought to reassure its apparently distraught workers Tuesday after talks with its lenders broke down, leading to the telecoms company being taken over by banks. In a message to all staff of the company, the Chief Executive of Etisalat Nigeria, Mathew Willsher, acknowledged the challenging business outlook for the company in the wake […]
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Pandemonium is the word to describe what was visible at Oke Initea area of Osogbo, Osun State, on Tuesday, following the discovery of the remains of a 27-years-old man, Adekola Busari, who had hung himself. Reports gathered indicate that Busari, was indebted to a micro finance bank, but his wife had assisted in repaying the […]
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