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FG And JV Cash Call Debts

The Federal Government, penultimate Tuesday, relieved  tension in the oil sector when it announced the release of $ 400 million as part payment to settle the outstanding $ 1.2 billion Joint Venture cash call debts owed multi-national companies in Nigeria, in 2016. The debt is aside the discounted $ 5.1 ...

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Gunmen kill bizman in Aba, make away with N5m cash

From Okey Sampson, Aba Cattle dealers in Aba, Abia State, were on Wednesday thrown into mourning when gunmen, numbering about four, reportedly killed one of their colleagues at the busy Bata Junction. It was gathered that the hoodlums made away with N5 million cash belonging to the cattle dealer, who ...

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Governor builds hotel with $3m Paris Club refund cash

Cash lodged in Rep’s account through proxy EFCC places restriction on NGF’s N8b, $ 80m Detectives have traced $ 3 million of the controversial London-Paris Club loan refund  to a governor, The Nation learnt yesterday. The cash is believed to be part of the N19billion illegally deducted from the refund ...

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Cash shortage fears mount as CBN intensifies forex intervention

Although they may be helping to stabilise the naira, the Central Bank of Nigeria (CBN)’s foreign exchange interventions have sparked fears within the financial circles, of worsening cash shortages in the banking system. Industry sources said that the apex bank’s frequent interventions in the interbank foreign exchange market, coupled with ...

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