DEBT

The Director-General of the Debt Management Office (DMO), Mrs Patience Oniha has revealed that Nigerian government’s borrowings derive from perennial budget deficits, stressing that the country’s economic crisis had made borrowing unavoidable. Oniha noted that even the governments of advanced economies borrow, adding that appropriate deployment of the borrowed fund...

The Asset Management Company of Nigeria (AMCON) has taken over assets belonging to a Lagos-based technology deployment solutions provider, Northrich Technologies Limited, over the latter’s failure to settle a N500 million debt. AMCON’s Head of Corporate Communications, Jude Nwauzor, said this on Wednesday in a statement titled ‘AMCON Takes over...

The National Bureau of Statistics (NBS) has disclosed that Nigeria’s total debt portfolio stands at N28.63 trillion at the end of first quarter of 2020. According to a report on NBS website titled “Nigeria domestic and foreign debt first quarter 2020,” the bureau said the country’ domestic debt hits N18....

  MTN Nigeria Communications (MTNN) Plc on Tuesday announced the successful issuance of N100 billion Series I & II Commercial Paper (CP) notes. MTNN stated this in a notice to the Nigerian Stock Exchange (NSE) and the investing public signed by Uto Ukpanah, its Company Secretary. The company said that...