The debts owed to Nigerian banks by oil and gas operators as well as power companies in the country rose to N5.94tn at the end of 2020 from N5.25tn in December 2019. The N5.94tn represents 29.16 per cent of the N20.37tn loans advanced to the private sector by the banks as of December, according to the sectoral analysis of banks’ credit by the Central Bank of Nigeria. Oil and gas firms, which received the biggest share of the credit from the banks, increased their debt by N600bn to N5.18tn in December 2020 from N4.58tn in December 2019. The debt owed by power firms to the banks rose to N763.22bn in December 2020 from N671.45bn in December 2019, the CBN data showed. Oil firms operating in the downstream, natural gas and crude oil refining subsectors owed N393tn as of December, up from N3.42t...
A suspected armed robber who was among two suspects arrested by security guards and residents of Elekahia Housing Estate was seen with an identity card of Nigeria Police Force, suggesting he might be their personnel. Newsmen gathered that the suspected were arrested on Saturday night after successfully robbing two ladies, but could not escape from the estate because of the presence of local vigilance group. President of Elekahia Progressive Youth, Prince One Aholu, confirmed the arrest to journalists, saying he got the report that the suspects were arrested during a robbery operation in the area by local vigilance team Aholu said the security guards alerted Police officers from Elekahia Divisional Police Station in Port Harcourt, who responded swiftly and arrested the suspects. The youth p...
Hoodlums have concluded arrangements to invade Anambra on Monday to cause mayhem, Governor Willie Obiano has raised the alarm. He spoke at the weekend in Aguleri, Anambra East local government area, when the Deputy Inspector General of Police, Celestine Okoye paid him a visit The DIG visited Obiano in company of the Assistant Inspector General of Police, AIG, incharge of Zone-13 Ukpo, Anambra State, Danmallam Mohammed, and the Anambra State Police Commissioner, John Abang. Before he raised the alarm, the protesters had sent a signal they would storm Awka the capital city from Onitsha and Nnewi, accusing the Awka protesters as too weak. Obiano said he would never allow such to happen as he had directed the Joint security team JTF to take control of the situation. He also called on tradition...
All Africa The Department of State Services has invited a former member of the House of Representatives, Ghali Na’aba, for questioning on Monday. Although the details of the invitation scheduled for Monday in Abuja were still sketchy, it was learnt that it was based on his recent interview on Channels Television on Thursday regarding the agenda to bring about a new Nigeria that works for all. Newsmen reported that Na’aba and former presidential candidate and founder of the Lagos Business School, Prof. Pat Utomion July 7 formed NCFront, a new political movement. The invitation of Na’aba was contained in a terse statement by its Head (Public Affairs Bureau) and former presidential candidate of the National Conscience Party, Dr. Yunusa Tanko, entitled: “News Flash: DSS Invites NCFront leader ...