World News

AMCON to take over assets of chronic debtors

The Asset Management Corporation of Nigeria will obtain court order to take over assets of some debtors who have made no reasonable progress to pay back their debts, investigation by our correspondent has revealed. It was gathered from a top official in AMCON on Tuesday that although some debtors were […]

Nigeria’s debt profile may hit $25bn in 2015

The Debt Management Office gave an indication on Tuesday that the country’s total debt profile might hit $25bn by 2015. The figure covers both local and foreign borrowing. The Director-General of the DMO, Mr. Abraham Nwankwo, had met with the House of Representatives Joint Committee on Finance/Legislative Budget and Research/National […]

External reserves hit $41.12bn

Foreign exchange reserves have risen to more than 29-month high of $41.12bn by September 26, and were up by 7.16 per cent month-on-month, latest figures by the Central Bank of Nigeria have shown. The figures revealed that forex reserves had not been as high as $41.12bn since April 19, 2010, […]