AGS NEWS – Debt servicing took up 47% of the Federal Government’s total expenditure in the first nine months of 2024, according to data from the Central Bank of Nigeria (CBN). The government spent ₦8.94 trillion on debt payments during … Continue reading FG services debt with 47% budget vote
AGS NEWS – Nollywood actress Toyin Abraham has reacted after a fashion designer called her out on social media. A designer identified as @stitchesbyandra had earlier accused Toyin Abraham, Annie Idibia and Gabriel Anthony of owing her a debt worth … Continue reading Toyin Abraham responds to fashion designer’s debt allegation
AGS NEWS – The police in Anambra State have arrested a 27-year-old man named Alozie John who attempted suicide due to a N1.2 million debt. According to the command’s spokesperson, Tochukwu Ikenga, Alozie, who is originally from Isielu LGA in … Continue reading Police rescue man who attempted suicide over N1.2m debt
AGS NEWS – Former Rivers State Governor Sir Siminalayi Fubara has disclosed that his administration inherited a substantial debt burden from the previous administration led by Nyesom Wike. Fubara revealed that the Rivers State Government, under his leadership, awarded nine … Continue reading Wike left N225.279bn debt for me – Fubara
AGS NEWS – The Debt Management Office (DMO) of Nigeria has disclosed that the country’s public debt has risen to N97.34 trillion ($108 billion) as of the fourth quarter of 2023. According to a statement released by the DMO and … Continue reading Public debt hits N97.34tn in fourth quarter – DMO
Globacom subscribers have been granted an additional 21 days to call MTN lines, as the Nigerian Communications Commission (NCC) postponed the planned barring of Glo subscribers from making calls to MTN lines. The NCC announced the extension in a statement … Continue reading NCC gives 21 day extension for telcos to resolve debt dispute
The Nigerian naira has exhibited a positive trend, strengthening to N1,120 against the US dollar in response to news that the Central Bank of Nigeria (CBN) initiated the clearance of some of its foreign exchange (FX) backlog. This marks a … Continue reading Naira bounces back as CBN resolves forex debt backlog
Justice Inyang Ekwo of the Federal High Court in Abuja has extended the deadline for former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to appear in court to clarify the circumstances regarding a $53 million judgment debt … Continue reading Judge warns of Emefiele’s possible arrest over $53m debt
Kingsley Achife, the Chief Executive Officer of the Ibadan Electricity Distribution Company (IBEDC), revealed on Monday that residential consumers in Ogun State owed the company more than N67 billion. He emphasized the importance of customers settling their debts to avoid … Continue reading IBEDC expresses concern over N67bn debt from Ogun customers
Barretts Bakery, a popular bakery chain based in Western Australia, has collapsed with a debt of $2 million, prompting administrators to urgently seek a resolution to rescue the business. The Australian Taxation Office is owed the substantial amount. Administrators took … Continue reading Australian Barretts Bakery burdened with $2m debt to ATO
The consistent downward spiral of the Nigerian currency, the naira, is posing a dire situation for the Central Bank of Nigeria (CBN), which is burdened with a substantial $15 billion loan obligation to prominent American investment banks, including JP Morgan … Continue reading Naira’s depreciation increases strain on CBN’s $15 billion debt burden
A recent first-quarter report by the Nigerian Electricity Regulatory Commission (NERC) has revealed that Niger owes Nigeria N4.22bn ($5.48m) for power supply. The report highlighted that the Nigerien state power company, Nigerien Electricity Society, has not remitted the $5.48m invoice … Continue reading Niger’s power debt to Nigeria amounts to N4 billion – NERC
Muslim clerics emphasize responsible celebration of Eid-el-Adha, discouraging desperation and borrowing. As the festival approaches, Islamic scholars advise Muslims to celebrate within their means and avoid financial trouble. The Chief Imam of the University of Abuja, Prof. Taofeek AbdulAzeez, warns … Continue reading Clerics advise Muslims not to incur debt for the purpose of purchasing Sallah ram
The Debt Management Office (DMO) predicts that Nigeria’s total public debt could reach N81.64tn this year, based on its 2022 Debt Sustainability Analysis Report. The report reveals that the increase in total public debt-to-GDP ratio from 23.4% in September 2022 … Continue reading Nigeria’s debt approaching N81tn raises concerns for DMO due to low revenue
Zamfara State Governor, Dauda Lawal, has disclosed that his predecessor, Bello Matawalle, left a mere N4 million in the state’s account, resulting in unpaid salaries for four months. Speaking in an interview with BBC Hausa, Lawal also highlighted the negative … Continue reading “The former governor left only 4m behind; I have been running Zamfara on debt” – Lawal
Destiny Etiko, a popular Nollywood actress and producer, has taken to social media to publicly accuse her colleague, Ruby Orjiakor, of failing to fulfill a contractual agreement and failing to repay an alleged debt. In a video posted on her … Continue reading Destiny Etiko calls out Ruby Orjiakor over unpaid debt
Abba Yusuf, the Governor of Kano State, voiced his dismay on Monday regarding the N241 billion debt inherited from the previous administration led by Abdullahi Ganduje. Yusuf, who was declared the winner of the March 18 governorship election, was inaugurated … Continue reading Kano state governor expresses concern over N241bn debt left by former administration
Head of the International Monetary Fund (IMF), Kristalina Georgieva, strongly criticized the United States for prolonging the debt dispute until the last minute, warning that it jeopardizes the stability of the global financial system. Georgieva expressed frustration with the ongoing … Continue reading IMF chief urges United States to resolve debt dispute without delay
The Debt Management Office (DMO) has denied the claim made by the non-governmental organization Socio-Economic Rights and Accountability (SERAP) that Nigeria has defaulted on its Chinese loans. SERAP had applauded a court judgment that ordered the current administration, led by … Continue reading Debt management office refutes claims of Nigerian loan default as NGO aeeks accountability for Chinese loans
President Joe Biden and Republican leader Kevin McCarthy engaged in a productive phone conversation, marking a notable shift in the stalled talks concerning the US debt ceiling. McCarthy described the call with Biden, who had just returned from the G7 … Continue reading Positive phone call between Biden and McCarthy signals potential breakthrough in US debt ceiling negotiations
Renowned comedian, Bright Okpocha, popularly known as Basketmouth, has recently addressed the rumors surrounding his relationship with fellow comedian AY Makun. In a recent interview on The Honest Bunch podcast, hosted by media personality Nedu, Basketmouth set the record straight … Continue reading Basketmouth reveals that he and AY were never friends as he addresses the N30,000 debt claim
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