LAGOS JANUARY 18TH (NEWSRANGERS)-A Nigerian man has turned to social media for help after his account was suspended by a popular mobile bank, leaving him unable to access the ₦250,000 in his account. The individual, who operates a POS service, posted his ordeal on X (formerly Twitter), explaining that he is now in debt to…
LAGOS SEPTEMBER 26TH (NEWSRANGERS)-Lagos lawyer and human right activist, Chief (Barr) Malcolm Omirhobo has described as ironical and laughable Nigeria government demand from world leaders to prioritise debt forgiveness for her from creditors and multilateral financial institutions. Omirhobo mockery is based on Nigeria’s national statement delivered at the 79th session of the United Nations General…
LAGOS SEPTEMBER 2ND (NEWSRANGERS)-Nigeria National Petroleum Corporation Limied (NNPCL) said it has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers. Olufemi Soneye, Chief Corporate Communications Officer NNPC Ltd. in a statement titled, “NNPC Ltd Faces Financial Strain Due to PMS Supply Costs, Impacting Supply Sustainability” made available to NewsRangers…
LAGOS APRIL 4TH (NEWSRANGERS)-The Presidential candidate of the Labour Party in the 2023 general election, Peter Obi has raised concerns again at the nation’s rising debt profile saying that N97.3 trillion is on the high side and worrisome. According to the former Anambra State Governor, even more disturbing is the fact that most of these…
LAGOS MAY 21ST (NEWSRANGERS)-When he steps down next week President Muhammadu Buhari will be leaving Nigerians less secure, poorer and more in debt than when he came to office in 2015. The former military ruler became president after winning a momentous election which saw the defeat of underperforming incumbent Goodluck Jonathan. Riding a wave of…
LAGOS APRIL 19TH (NEWSRANGERS)-Nigeria spent nearly all the revenues it earned last year servicing its debts, the World Bank said in a new report. Debt service as a proportion of government income increased to 96% in 2022 from 83% a year earlier, according to the World Bank. Low revenue and rising interest payments have left…
LAGOS NOVEMBER 27TH (NEWSRANGERS)-Aircraft in the Presidential Air Fleet are at the risk of being impounded by foreign creditors, Saturday PUNCH has learnt. Findings indicated that the PAF was indebted to several service providers for various upgrades carried out on the 10 aircraft in the fleet to meet the required airworthiness. The PAF provides secure…
LAGOS NOVEMBER 30TH (NEWSRANGERS)-China has denied reports it could take control of Uganda’s international airport should the government in Kampala default on a $200 million loan from Beijing. “The malicious allegation… has no factual basis and is ill intended to distort the good relations that China enjoys with developing countries including Uganda,” a spokesman for…