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DMO: Nigeria owes World Bank N3.96 trillion

Nigeria’s highest external debt stock to a multilateral or bilateral financial institution is its $10.46bn (N3.965tn at the official rate of N379/$) indebtedness to the World Bank Group, latest figures from the Debt Management Office have shown.
President Muhammadu Buhari on Sunday said the federal government will provide relief materials for residents of Lagos and Abuja whom he ordered to stay-at-home as part of measures to curb the spread of the coronavirus.

President Buhari: It’ll be dangerous to go back to fuel subsidy era

President Muhammadu Buhari has warned that it would be economically dangerous for Nigeria to go back to the era of fuel subsidy, citing grave financial cost and a return to the era of long fuel queues as certain results.

DMO: Nigerians’ concerns should be how loans are utilised

The Director-General, Debt Management Office, Patience Oniha, on Wednesday, defended the nation’s debt profile, saying there is nothing wrong with borrowing.
The National Assembly is yet to ratify over 400 treaties, protocol and other agreements with foreign nations and bodies entered into by Nigeria, a House of Representatives member, Ossai Nicholas Ossai has said.

House of Reps split over procedural flaws on Chinese loans probe

Chairman of the House of Representatives Committee on Treaties, Protocols and Agreements, Hon. Ossai Nicholas Ossai, and his counterpart in Public Accounts Committee, PAC, Hon. Woke Oke, Tuesday split over the procedures of probe of the Chinese loans.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

House of Reps discover discrepancies in CBN, AGF presentations

The House of Representatives on Thursday rejected the presentation of the Central Bank of Nigeria (CBN) on the $11 billion withdrawn from the Excess Crude Account for the National Integrated Power Project following observed discrepancies in its presentation and that of the Accountant General of the Federation.

DMO resumes FGN savings bond offers

The Debt Management Office (DMO) has announced the resumption of its monthly Offers of the Federal Government of Nigeria Savings Bond (FGN Savings Bond) effective August 2020.
Debt Management Office (DMO)

DMO: Chinese loans constitute only 3.9 percent of Nigeria’s total public debt stock

Total loans by the Chinese government and affiliate agencies to Nigeria is about $3.121 billion and constitutes only about 3.94 per cent of Nigeria’s total public debt of $79.3 billion as of March 31, the Debt Management Office (DMO) has said.
The House of Representatives has enjoined the authorities to encourage the use of locally developed remedies for the management and treatment of Covid-19 ailments in the country.

House of Reps uncovers clauses conceding Nigeria’s sovereignty to China in loan deal

A House of Representatives committee has raised the alarm over clauses conceding Nigeria’s sovereignty to China in a loan agreement.
The Coordinator, Defence Media Operations, Maj.-Gen. John Enenche, in a statement on Saturday, added that large cache of arms and ammunition were also recovered during the operation.

Troops kill several Boko Haram leaders, fighters, recover cache of arms, ammunition

The Defence Headquarters (DHQ) has disclosed that the gallant Troops of Operation Hadarin Daji, Sahel Sanity, Whirl Stroke, Lafiya Dole, Delta Safe and others have again killed several Boko Haram leaders and members and recovered arms and ammunition.
Director, Defence Media Operation, Major General John Enenche, who made this known at a media briefing, also indicated that the DHQ has provided three additional treatment and isolation centres of its own.

DHQ: Troops neutralise top Boko Haram/ISWAP commander, several others

The Defence Headquaters, DHQ, on Sunday said that in the renewed Operations to end insurgents activities in the country, the Troops have again killed top Boko Haram/Islamic State of West Africa Province – BH/ISWAP, members in the North East region of the country.
Director, Defence Media Operation, Major General John Enenche, who made this known at a media briefing, also indicated that the DHQ has provided three additional treatment and isolation centres of its own.

DHQ absolves personnel as Tiv leaders accuse troops of raping their women

The Defence Headquarters, DHQ, on Saturday denied allegation of leaders of Tiv people in Taraba State under the aegis of Tiv Cultural and Social Association (TCSA) accusing Nigerian military personnel deployed in Taraba State of raping their wives and daughters and also destroying their properties in the name of manhunt for bandits in Southern Taraba.
Governor David Nweze Umahi

N2 billion loan: Ebonyi indigenes seek holistic probe of state’s finances

Ambassador Paschal Oluchukwu, Convener of the Association of Ebonyi State Indigenes in Diaspora (AESID), has urged the nation’s anti-graft agencies to immediately undertake an holistic probe of the finances of Ebonyi State in the last 16 years in the light plethora of its abandoned projects and huge debt overhang.
Debt Management Office (DMO)

Nigeria begins sale of N150 billion sovereign Sukuk at 11.2 percent

The Federal Government on Thursday began the sale of its third tranche 7-year N150 billion Sovereign Sukuk, the Debt Management Office (DMO) said.
Femi Adesina, spokesman of President Muhammadu Buhari

Presidency: Nothing wrong with taking more loans

There is nothing wrong in taking more loans to finance specific projects, the Presidency said on Sunday.
Speaker of the House of Representatives, Rep. Femi Gbajabiamila on the floor, moving a bill on the Repeal of Quarantine Act, 2004 at plenary yesterday at National Assembly Abuja. . Photo by Gbemiga Olamikan. 2

House of Reps seek review, cancellation of Chinese loans to Nigeria

House of Representatives yesterday mandated its Committees on Treaties, Protocols and Agreements, Finance as well as Debt Management, DMO, to liaise with the Ministry of Finance and the DMO Office to seek review or outright cancellation of latest Chinese loans to Nigeria on the principle of force majeur.
The National Industrial Court in Abuja has ordered the Nigerian Bulk Electricity Trading (NBET) to pay a whistleblower, Sambo Abdullahi, all his salaries and other emoluments from December 22, 2017, till date.

President Buhari reconstitutes NBET board

President Muhammadu Buhari has reconstituted the Board of Directors of the Nigeria Bulk Electricity Trading Company Plc (NBET).
Debt Management Office (DMO)

Nigeria converts N850 billion external borrowing to finance budget deficit

To cushion the effect of the Coronavirus pandemic on the the economy, the Federal government plans to borrow the N850 billion External Borrowing approved in the 2020 Appropriation Act to Finance the Budget deficit.
Director, Defence Media Operation, Major General John Enenche, who made this known at a media briefing, also indicated that the DHQ has provided three additional treatment and isolation centres of its own.

DHQ: We bombed Boko Haram leaders during Borno meeting

Military jets deployed by the Air Task Force of Operation Lafiya Dole killed some leaders of the Islamic State of West Africa Province and Boko Haram fighters during a meeting at Kolloram on the fringes of the Lake Chad in Borno State.

Recent Stories

Akwa Ibom State Governmenthas embarked on on-the-spot assessment of properties vandalized in Uyo, the state capital as an aftermath of the #EndSARS protest.

Akwa Ibom government tours properties vandalised by hoodlums

Akwa Ibom State Government has embarked on on-the-spot assessment of properties vandalized in Uyo, the state capital as an aftermath of the #EndSARS protest.
Gov. Ben Ayade of Cross River has directed applicants for the 8,000 automatic jobs to enlist through their respective village heads.

Cross River governor charges security agents to restore order in Calabar

Gov. Ben Ayade of Cross River has charged security agencies in the state to take legitimate actions to halt the spate of arson and carnage witnessed in some parts of Calabar.
President Muhammadu Buhari

#EndSARS: President Buhari sends ministers to home states

President Muhammadu Buhari has sent his ministers to their home states in a move to douse tensions that resulted from the #ENDSARS protests, the crisis that succeeded them and then sell the Federal government’s decision to ensure police reforms and other issues the youths raised.
(FILES) In this file photo taken on April 09, 2019 Brazilian football great Edson Arantes do Nascimento, known as Pele, arrives at Guarulhos International Airport, in Guarulhos some 25km from Sao Paulo, Brazil. – Brazilian football legend Pele “lives reclusive” and “suffers from a form of depression” because he cannot walk normally, his son revealed on Monday at Globoesporte.com. (Photo by NELSON ALMEIDA / AFP)

Pele: Cristiano Ronaldo better than Lionel Messi but i’m greatest player ever

Brazilian legend Pele has claimed that Cristiano Ronaldo is better than Lionel Messi but insisted that he is still the greatest footballer of all time.
As the #EndSARS protests turn violent in different parts of the country, a Methodist Bishop, Dr Sunday Onuoha, has called on the demonstrating youths not to take the laws into their own hands.

#EndSARS: Methodist Bishop sues for peace

As the #EndSARS protests turn violent in different parts of the country, a Methodist Bishop, Dr Sunday Onuoha, has called on the demonstrating youths not to take the laws into their own hands.