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Some shareholder groups in the nation’s capital market on Tuesday urged Etisalat Nigeria to settle the N1.2 billion debt it owes 13 commercial banks to avoid a takeover. A cross section of the shareholder groups stated this in an interview with newsmen in Lagos on Tuesday. They insisted that the company must settle the debt…
June 28, 2017
The Nigerian equities market extended its two-day loss to close Friday June 23, 2017 with a week-on-week negative position of 4.99 per cent due to falling oil prices nearing the budget benchmark of $44.5 per cent Five days trading witnessed market capitalisation depreciating by N7.465 billion. Analysts at Trust Yield investment said the “Nigeria’s recent…
June 26, 2017
Denied Being Under Probe Etisalat Nigeria has refuted claims that it was owing banks $1.2bn, saying it has repaid 42 per cent of the debt owed Nigerian banks and now owing $574bn as against what was being reported in the media. The clarification was made by the troubled telecommunications company on Thursday, The New Diplomat…
June 22, 2017
NCC Assures Subscribers Of Network Integrity Of Etisalat The Federal Government has disagreed with a consortium of local and foreign banks for taking over the management of Etisalat Nigeria after debt restructuring talks with the banks failed. Citing the Nigerian Communications Act (NCA) 2003, Section 38, Federal Government said it was too early for the…
June 21, 2017
By 'Dotun Akintomide Nigerian migrant workers sent back home $18.956bn as remittances, a figure which indicated a 5.2 percent growth in nine years, a UN agency’s report has shown. According to the report, titled Sending Money Home: Contributing to the SDGs, One Family at a Time and published on Wednesday, global migrant workers sent back…
June 17, 2017
The domestic debt profile of the 36 states stood at N2 .96 trillion as of March 31, 2017, according to the Debt Management Office, DMO. Data released by the DMO said the debt rose from N1.69 trillion at the same time in 2015, representing an increase of N1.27 trillion. The office made the disclosure as…
June 15, 2017
The exchange rate at the parallel market remained stable at N367 to the dollar yesterday, as the Central Bank of Nigeria (CBN) again injected $418m into foreign exchange market. The intervention, which cut across various segments of the inter-bank forex market, was aimed at pushing for the convergence of various market rates and resumption of…
June 14, 2017
To reduce the strangulating high interest rates charged on loans by financial institutions in the country, the Senate Committee on Banking, Insurance and Other Financial Institutions has summoned the Central Bank of Nigeria, Nigeria Deposit Insurance Corporation and Deposit Money Banks to a meeting on Tuesday. The New Diplomat learnt the Senate panel has also…
June 12, 2017
The rise in Nigeria’s debt profile to N19.15 trillion in March, 2017 as against N17.36 trillion at the end of December 31, 2016 has continued to erode the gains made by the country under the former President Olusegun Obasanjo’s regime leading to Nigeria getting off the hook of Paris Club debts. According to Debt Management…
June 6, 2017
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Some shareholder groups in the nation’s capital market on Tuesday urged Etisalat Nigeria to settle the N1.2 billion debt it owes 13 commercial banks to avoid a takeover. A cross section of the shareholder groups stated this in an interview with newsmen in Lagos on Tuesday. They insisted that the company must settle the debt…
June 28, 2017
The Nigerian equities market extended its two-day loss to close Friday June 23, 2017 with a week-on-week negative position of 4.99 per cent due to falling oil prices nearing the budget benchmark of $44.5 per cent Five days trading witnessed market capitalisation depreciating by N7.465 billion. Analysts at Trust Yield investment said the “Nigeria’s recent…
June 26, 2017
Denied Being Under Probe Etisalat Nigeria has refuted claims that it was owing banks $1.2bn, saying it has repaid 42 per cent of the debt owed Nigerian banks and now owing $574bn as against what was being reported in the media. The clarification was made by the troubled telecommunications company on Thursday, The New Diplomat…
June 22, 2017
NCC Assures Subscribers Of Network Integrity Of Etisalat The Federal Government has disagreed with a consortium of local and foreign banks for taking over the management of Etisalat Nigeria after debt restructuring talks with the banks failed. Citing the Nigerian Communications Act (NCA) 2003, Section 38, Federal Government said it was too early for the…
June 21, 2017
By 'Dotun Akintomide Nigerian migrant workers sent back home $18.956bn as remittances, a figure which indicated a 5.2 percent growth in nine years, a UN agency’s report has shown. According to the report, titled Sending Money Home: Contributing to the SDGs, One Family at a Time and published on Wednesday, global migrant workers sent back…
June 17, 2017
The domestic debt profile of the 36 states stood at N2 .96 trillion as of March 31, 2017, according to the Debt Management Office, DMO. Data released by the DMO said the debt rose from N1.69 trillion at the same time in 2015, representing an increase of N1.27 trillion. The office made the disclosure as…
June 15, 2017
The exchange rate at the parallel market remained stable at N367 to the dollar yesterday, as the Central Bank of Nigeria (CBN) again injected $418m into foreign exchange market. The intervention, which cut across various segments of the inter-bank forex market, was aimed at pushing for the convergence of various market rates and resumption of…
June 14, 2017
To reduce the strangulating high interest rates charged on loans by financial institutions in the country, the Senate Committee on Banking, Insurance and Other Financial Institutions has summoned the Central Bank of Nigeria, Nigeria Deposit Insurance Corporation and Deposit Money Banks to a meeting on Tuesday. The New Diplomat learnt the Senate panel has also…
June 12, 2017
The rise in Nigeria’s debt profile to N19.15 trillion in March, 2017 as against N17.36 trillion at the end of December 31, 2016 has continued to erode the gains made by the country under the former President Olusegun Obasanjo’s regime leading to Nigeria getting off the hook of Paris Club debts. According to Debt Management…
June 6, 2017
