Capital Oil & Gas Industries Limited has described recent media statement credited to Access Bank PLC, over disputed loan facilities, as a breach of the terms of settlement signed by the two parties on February 9, 2013. Capital Oil in a statement issued on Friday expressed displeasure that Access Bank is still conveying erroneous impression to the public by stating that its legal disputes with the bank ...

The Ministry of Finance has risen to defend its 2013 budget which included a plan to to fumigate the Ministry at the cost of  N43,381,673 , claiming the proposed budget is “prudent and reasonable.” Despite the widespread condemnation that greeted the planned fumigation of the Ministry with N43 million, the Ministry in a statement on Monday stated that “the proposed annual budget for cleaning and fumigating ...

The Federal Government is expected to borrow $25 billion by 2015, Nigeria’s Debt Management Office (DMO) told the House of Representatives yesterday. This disclosure was made at a meeting with the House Joint Committee on Finance, Legislative Budget and Research, National Planning and Aid, Loans and Debt Management scrutinising the 2013-2015 Medium Term Expenditure Framework and Fiscal Strategy (MTEFF) pape ...

The country’s domestic debt profile rose by three per cent to N6.153trillion in June for the second quarter, representing an increase of N187billion over the figure recorded in the first quarter of the year. Statistics obtained from the Debt Management Office on Monday revealed that the domestic debts had increased from N5.966trillion ($37.71billion) at the end of the first quarter March 31, 2012, to N6.153 ...

The Debt Management Office, (DMO) has announced plans to raise N75 billion through the sale of bonds with maturities of between five and ten years at its regular auction on August the 15th. In a public notice released on Friday, the DMO said it would sell N25 billion apiece of five-, seven- and 10-year bonds with terms to maturity of four years and seven months, six years and nine months, and nine years and ...

The Debt Management Office-DMO of Nigeria has confirmed plans to sell N70 billion worth of sovereign bonds within a decade of its regular auction on May 16. The debt office said it would sell N35 billion each in the 5-year and 10-year paper with term-to-maturity of four years and 11 months and nine years and eight months, respectively. Both bonds are due to mature in 2017 and 2022 respectively and are re-op ...

The total debt profile of Nigeria now stands at $44.28bn (N6.88tn), according to the Debt Management Office (DMO). Statistics obtained from the DMO revealed that the domestic debt component of the total indebtedness stood at $38.37bn (N5.97tn), while the external debt stood at $5.91bn (N919.44bn) as at March 31, 2012. Details of the external debt balance showed that multilateral financial institutions accou ...

Nigeria plans to raise between 210 billion and 290 billion naira ($1.33 billion - $1.84 billion) in sovereign bonds ranging between 3 and 10 years in the second quarter of the year, the Debt Management Office (DMO) said, more than its first quarter debt issuance. The debt office said late on Tuesday it would auction between 15-25 billion naira in 3-year paper in April, 30-40 billion naira worth in 5-year an ...