Abuja Disco to disconnect Barracks, 84 MDAs over N47.1bn debt

The Abuja Distribution Company has announced plans to disconnect barracks and 84 government agencies due to their outstanding debt of over N47.1 billion.    In a notice of disconnection issued on Monday, February 19, the distribution company requested that MDAs settle their outstanding debts within 10 days to avoid the possibility of experiencing a blackout beginning on February 28, 2024.   The various government agencies included in the list include the Ministry of Finance, Information, Budget, Works and Housing, barracks,

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Blessing CEO releases purported voice note of auto dealer IVD saying Davido has paid off N4 million of the debt he owed him

Blessing CEO has released a purported voice note of auto dealer IVD saying Davido has paid off N4 million out of the N4.5 million debt he owes him.   Recall that on Wednesday, October 25,  Blessing called out Davido over the alleged debt. She alleged that the singer was owing her former friend, IVD, the sum of. N4.5 million after he purchased a Venza for his aide, Isreal Afeara.   IVD later released a statement denying Blessing’s claim that Davido

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Man stabs manager at lottery center over unpaid debt (photo)

Officers of Area K, Morogbo of the Lagos State Police Command have arrested one Kamalideen Raji ‘m’ aged 35 over the alleged murder of one person in the Badagry area of the state.    The suspect, who was arrested at about 11.30am on Tuesday, August 2, allegedly stabbed his victim, a manager of a lottery center, twice in the neck over a disagreement about unpaid debts.    The victim was rushed to Badagry General Hospital for medical attention but later gave

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Court dismisses DSS application to set aside President Buhari’s daughter’s SIM card judgement debt

The Federal High Court in Asaba on Wednesday July 8, struck out the Department of State Services’ application to stop payment of a N10 million judgement debt issued against it in a case involving President Muhammadu Buhari’s daughter, Hanan.   The money was awarded to Anthony Okolie after he dragged the agency to court for violating his fundamental human rights over an MTN SIM card that was once used by Hanan.   Justice Nnamdi Dimg alt=’Court dismisses DSS application to set aside

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AMCON takes over oil magnate Festus Fadeyi’s Pan Ocean assets over N240 billion debt (video)

The Asset Management Company of Nigeria, AMCON, on Thursday, July 2, took possession of Pan Ocean Oil Corporation Nigeria Limited, and its affiliate companies owned by billionaire oil mogul, Festus Fadeyi, over an unpaid N240 billion loan debt. Justice Mohammed Liman of the Federal High Court sitting in Lagos had on June 22, granted an ex-parte application by counsel to AMCON, Kunle Ogunba SAN, to take interim possession of the assets of Pan Ocean over the unpaid loan. The court also granted the application by AMCON

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Atiku is spreading falsehood on Nigeria’s debt profile

Lai Mohammed, minister of information and culture has accused former Vice-President Atiku Abubakar of spreading falsehood on Nigeria’s debt profile.    LIB reported that the former Presidential Candidate of the People’s Democratic Party (PDP), had lashed out at the federal government over the rising debt in the country.  He accused the Buhari-led administration of squandering the opportunities of future generations by bequeathing them a debt that they neither incurred nor enjoyed in his article on Tuesday June 16.    However in a statement

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