Research by ONE has revealed that African countries will pay $56 billion more on debt raised on capital markets between 2017 and 2021. The research also stated that “If average interest rates on bonds increase by 1% more, interest would cost…
By Sodiq Adelakun Data released by the Central Bank of Nigeria (CBN) has revealed that the Federal Government of Nigeria spent $1.17 billion to service its foreign debt in the first half of 2023. The report reveals that in January…
The debt owed mobile network operators (MNOs) by deposit money banks (DMBs) over the use of the Unstructured Supplementary Service Data (USSD) has risen to N150 billion, it was gathered over the weekend. The Central Bank of Nigeria (CBN) is…
Following the recent floating of the naira by the Central Bank of Nigeria, the external debt of the 36 states and the Federal Capital Territory may rise by as high as over 40 per cent. On Tuesday, June 13, a…
In recent times, the media has been awash with news about the huge debt burden that the incoming government would inherit from the President Muhammadu Buhari administration. This started after Buhari signed the 2023 budget of N21.83trillion into law in…
Nigeria’s total public debt stock as at Dec.31, 2022 stands at N46.25 trillion ($103.11 billion). This is according to a statement issued by the Debt Management Office (DMO) in Abuja on Thursday. The DMO said the total public debt stock…
By Seun Ibiyemi The Federal government has uncovered monumental debts of approximately N5.2 trillion. This was stated by the Director, Special Project, Federal Ministry of Finance, Budget and National Planning, Victor Omota during the North-West sensitisation workshop organized for personnel…
The Debt Management Office, DMO, has announced the issuance of four bonds of N90 billion each, amounting to N360 billion. In a statement on Wednesday, the office said there are offers for subscription by auction and that it is authorised…
A woman got into a confrontation with two staff members in a restaurant, as shown in a video posted by @doriswealthy, because she couldn’t pay her expenses. She reportedly entered the lounge with a male, but they left suddenly, leaving…
The Federal Government has proposed to spend N4.5tn on interest charges for domestic debt by 2023, according to the proposed 2023 budget. This is an increase of 243.51 per cent from the N1.31tn proposed allocation for interest charges on domestic…
