assets

Debt China Will Not Take Over Nigeria’s Assets – Envoy

Debt: China Will Not Take Over Nigeria’s Assets – Envoy

September 24, 2022 5:54 am

Chinese ambassador to Nigeria Mr. Cui Jianchun, has asserted that his country has no plans of taking over Nigeria’s critical assets as repayment for loans in the event of default.

Jianchun made this known during the visit of the Chinese Special Representative on African Affairs, Liu Yuxi to Nigeria’s Minister of State for Foreign Affairs, Zubairu Dada on Friday in Abuja.

The visit of the Chinese Special Representative to Africa is geared towards strengthening Nigeria and China relations.

He expressed China’s willingness to work with Nigeria for the benefit of both countries.

Jianchun said that China and Nigeria are working …

ExxonMobil Announces Renewal Of 2 Deepwater Assets In Nigeria

ExxonMobil Announces Renewal Of 2 Deepwater Assets In Nigeria

August 14, 2022 2:42 am

Oil giants, ExxonMobil Corp. has announced the renewal of two deepwater leases in Nigeria for a further 20 years, becoming among the first permits to be granted under the country’s new oil and gas law.

The U.S. energy giant extended its rights over two oil blocks at a ceremony on Friday in Abuja. It also renewed production-sharing contracts with the Nigerian National Petroleum Company, Limited(NNPC).

“We are pleased to announce the renewals of our OMLs 133 (Erha) and 138 (Usan) deepwater leases for a further 20–year period. This includes extensions of Production Sharing Contracts with our partner NNPC Limited.

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Tinubu's Falsified Age: A Typical Nigerian Corrupt System

The Attack On Tinubu’s Assets Is An Attack On Nigeria – Group

October 25, 2020 4:12 am

A Political group, Tinubu Vanguard, has called on Nigerians to stop the verbal and sometimes physical attack on Mr. Bola Tinubu, and his assets.

Director-General (D-G) of the group, Dr. Johnny Ben, made the call in a statement on Saturday against the backdrop of recent attacks on assets that were purportedly traced to Tinubu.

Tinubu, a former governor of Lagos state, is the National Leader of the ruling All Progressives Congress (APC).

‘The attack on Tinubu’s assets in Lagos is an attack on Nigeria and its people, it is barbaric and we condemn it in its entirety.’

‘Tinubu had made

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China Can Seize Assets If Nigeria Defaults On Loans - Amaechi

China Can Seize Assets If Nigeria Defaults On Loans – Amaechi

July 30, 2020 1:39 pm

The Minister of Transportation, Mr. Rotimi Amaechi, has said if Nigeria defaults on loans repayment, China has right to take over those assets and run them until it recovers its money.

The minister spoke to journalists yesterday at Idu train station in Abuja during a COVID-19 protocol compliance and inspection after rail operation resumed.

The House of Representatives in their probe of Chinese loans to Nigeria found that the agreements ceded Nigeria’s sovereign right on the assets financed by the loans to China if there was payment default.

But Amaechi said: “What the Chinese normally do is that they go

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Assets

Pension Fund Assets Hit ₦9.58trn

November 29, 2019 11:36 am

The National Pension Commission (PenCom) yesterday said it has grown pension funds assets  to ₦9.58 trillion as at the end of September 2019.

This is even as the number of registered contributors under the  Contributory Pension Scheme (CPS) has grown to 8.85 million.

The Acting Director General of PenCom, Aisha Dahir-Umar, said this yesterday at a  workshop for Journalists in Benin, adding that the growth, indeed, justifies the commission’s emphasis on the safety of pension funds as the bedrock of sustaining the CPS.

Mrs Dahir-Umar also assured all stakeholders that the pension reform was steadily on course.

She said: …

AMCON Reports 1,000 Chronic Debtors Owing ₦3.96tn

₦1bn Debt: AMCON Takes Over Ex-Minister’s Assets

November 19, 2019 2:50 am
Following the order of Hon. Justice Chuka Austine Obiozor of the Federal High Court, Lagos, the Asset Management Corporation of Nigeria (AMCON) has taken over two properties belonging to Mr Ademola Seriki, in Lagos and Abuja over an outstanding indebtedness of nearly ₦1billion. 

The case between AMCON and Seriki, a former Minister of State for Defence as well as a former Supervising Minister for Mines and Steel Development has lingered for a while  with the bad bank waiting for the obligor to pay up.

In a statement yesterday, AMCON said it does not in the first instance resort to the …

Okorocha, wife, to forfeit assets to EFCC

Okorocha, wife, to forfeit assets to EFCC

September 5, 2019 12:20 am

The Economic and Financial Crimes Commission (EFCC) says it has obtained orders for the interim forfeiture of assets traced to a former Imo governor, Rochas Okorocha, and his wife.

The Head, Enugu Zonal Office of the commission, Mr Usman Imam, disclosed this on Wednesday in Enugu while briefing newsmen on the activities of the commission in the last eight months.

Imam said that the commission also obtained similar order on a property traced to a former aide to Okorocha, Mr Paschal Obi, and the former governor’s daughter.

He said that the commission had established prima facie cases against the …

PDP against 27-year-old Makinde’s commissioner-nominee

Gov. Makinde declares assets, worth over ₦60 billion

July 16, 2019 3:51 am

Mr Seyi Makinde, the Oyo State Governor, on Monday, made public his assets after he received a copy of the asset declaration form which he had earlier submitted to the Oyo State office of the Code of Conduct Bureau (CCB) in Ibadan.

News Agency of Nigeria (NAN) reports that details of the assets show that he is worth over N60,473,300,066 according to the figures in the forms calculated with CBN rates for foreign currencies.

The details are contained in the CCB 1 with the name Oluseyi Abiodun Makinde, which was declared at the High Court of Oyo State, on May

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𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

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