Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,776,886 members, 6,615,909 topics. Date: Saturday, 04 December 2021 at 08:04 AM

AMCON May Seize 36 States Accounts Over N337.7billion Public Debts - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / AMCON May Seize 36 States Accounts Over N337.7billion Public Debts (464 Views)

Why We Are Buying N4.7billion Worth Of Cars- Nigeria Senate. / Buhari Dissolves AMCON, Appoints Ahmed Lawan Kuru as MD / US Freezes Nigerian Embassy’s Accounts Over Money Laundering (2) (3) (4)

(1) (Reply)

AMCON May Seize 36 States Accounts Over N337.7billion Public Debts by Ptimes: 12:02pm On Mar 28, 2012
The Asset Management Corporation of Nigeria (AMCON) has threatened to seize the accounts of the 36 states of the federation over huge outstanding public debts.

The Debt Management Office (DMO), the government agency charged with the responsibility of managing the country’s debt, puts the country’s total debt stock at $5666.6million (external) and N5.623trillion (domestic) as at December 31, 2011.

A breakdown of the figures shows that the foreign debt stock is made up of $4.567billion to multilateral institutions, consisting the World Bank, African Development Bank (ADB), International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Fund for Agricultural Development (IFAD), African Development Foundation (ADF) as well as Islamic Development Bank (IDB).

A further breakdown indicates that $453.83million of the liability comprises bilateral non-Paris club debt, and $143.82million commercial debt, while Eurobond stands at $500million... read more: http://premiumtimesng.com/business/4429-amcon_may_seize_36_states_accounts_over_n337_7billion_public_deb.html

(1) (Reply)

Would The Reduction In States Created Reduce Cost Of Governance And Corruption? / “dieziani A-madueke Called Me Over 20 Times In Quest To Be Minister - Henry Okah / Joint Task Force And Militants Gunfight Ongoing In Kano

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 37
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.