President Olusegun Obasanjo on Friday in Lagos expressed deep concern about Nigeria’s current debt profile and warned the Federal Government against “impending bankruptcy.”
Obasanjo was a keynote speaker at the “Why I am Alive” campaign celebration in Lagos on Friday.
Nigeria’s external debt, he said, grew by as much as 700 percent to N24.947 trillion ($81.2.74 billion), from $10.32 billion in just four years (2015), meaning that the country would have to commit half of its foreign earnings to servicing its current level of indebtedness.
“Such a situation talks about impending bankruptcy,” the former president warned. He insisted that “no …
Nissan should be fined $22 million for filing documents that under-reported the compensation of former chief Carlos Ghosn, Japanese regulators recommended Tuesday, with troubled the firm saying it would not dispute the penalty.
The Securities and Exchange Commission (SESC) made the recommendation as Ghosn, who was arrested in November last year, awaits trial in Tokyo on four charges of financial misconduct.
Among the allegations against him are claims that he under-reported his compensation from 2010 to 2018, deferring some of his pay and failing to declare it to shareholders.
Ghosn denies all the charges against him and has argued there …
Tears roll out from behind Ayat’s oversized glasses but her hands, facing the sky, are steady. Her friends are gone, killed protesting Iraq’s government, but their “revolution” continues.
“Peace be upon you and on your two rivers, Iraq,” sings Kazem Saher as young demonstrators mourn their peers in the epicentre of the anti-regime movement in Baghdad’s Tahrir Square.
They stand sombre and motionless under the imposing “Liberty Monument,” as if mirroring the bronze figures on the long marble slab above them retelling Iraq’s tumultuous history.
Ayat, a medic, is but one of the characters in this new chapter, along …
Former Pakistan cricketer Nasir Jamshed will go on trial in Britain on Tuesday accused of being part of an alleged spot-fixing bribery conspiracy in the Pakistan Super League.
Yousef Anwar, 36, and Mohammed Ijaz, 34, admitted Monday conspiring to offer bribes to professional cricketers, before a scheduled trial in Manchester, northwest England.
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The pair pleaded guilty to conspiring together between November 2016 and February 2017 to offer financial advantages to players in the Pakistan Super League, with the intention of inducing them to perform improperly by failing to play …
Churches, shops and homes in the city of canals have been inundated by unusually intense “acqua alta”, or high waters, which on Tuesday hit their highest level in half a century.
The crisis, driven by bad weather, has prompted the government to release 20 million euros ($22 million) in funds to tackle the devastation.
The water was expected to reach 1.5 metres (5 feet) mid-morning on Friday as
The unusually open criticism by seasoned diplomats comes amid growing expectations that Pompeo will soon exit to run for Senate in his home state of Kansas — where his frequent travel has
An Ebute Meta Chief Magistrates’ Court in Lagos State on Friday remanded 31-year-old Godspower Johnson accused of beating his wife to death during a fight over sex.
Chief Magistrate O.O. Olatunji, ordered that Godspower should be kept at the Ikoyi Prison, Lagos, for the next 30 days pending advice from the state Director of Public Prosecutions (DPP) on the case.
Earlier, the prosecutor, Insp. Oladele Adebayo, told the court that the defendant committed the offence on March 21, at 5:30p.m., at No. 28, Adekoye St., Igbo-Elerin, Ishashi.
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He alleged …
