Tags: FGN

FG Defends $2.5bn Eurobond’s Floating, sayings debt level will not be affected

The federal government through the Debt Management Office (DMO) has floated a $2.5 billion Eurobond, making the fifth issuance in the country’s history. In a statement by Salisu Na’inna Dambatta, director of information at the ministry of finance, said it will be divided into two notes with different maturity periods. “The notes comprise a $1.25 billion…

Malabu: Federal Government Sues JP Morgan, Demands Over $875m For Negligence

JP Morgan Chase HQ. (REUTERS/Mike Segar)  The President Muhammadu Buhari administration has sued US banking giant, JP Morgan Chase claiming more than $875 million and accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to Malabu Oil and Gas, a company controlled by former petroleum minister, Chief Dan Etete. The lawsuit,…

 Addax petroleum plans self criminal cleansing within its operational facilities both home and abroad

Since re-establishment the case of Malabu $1.1 billion deal which invloved in the calculation of royalty and taxes from the crude oil Production Sharing Contract of OMLs 123, 124, 126 and 137 by Addax pertdue to the government. According to the report, a spokesperson, Dorothy Adake, in an email sent to PREMIUM TIMES on Tuesday morning saying: “Addax…

Fayose Says $1b Eurobond Loan Burden on Future Generations

Fayose…will he hold his ground this time Governor of Ekiti State and Chairman of the Peoples’ Democratic Party (PDP) Governors’ Forum, Ayodele Fayose has described the Federal Government’s plan to secure Eurobond which re-payment would last till 2032 may plunge the nation into prolonged economic misery. The governor, who in his usual way challenged the…

BJAN urges FG to reconstitute APCON council without further delay

The Brand Journalists Association of Nigeria, BJAN, an umbrella body of journalists covering brands and integrated marketing communications in Nigeria has urged the Federal Government to make it its top priority in re-constituting the board of the Advertising Practitioners Council of Nigeria (APCON) without further delay in order to save the advertising industry from imminent…