Tag Archives: Owe

10 ‘Big Boys’ Hold Economy To Ransom, Owe AMCON N1tr

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Efforts by the Federal Government at shoring up economic activities through debt recovery from individuals and organisations are not adding up. High-profile debtors are using the courts to mount blocks in the way of government.

It was learnt that at least 10 of such individuals, referred to as the “big boys”, are collectively owing the government about N1 trillion, which is about 17 per cent of the N6 trillion 2016 national budget.

The Managing Director and Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, told The Guardian that these “big boys with big jets” had perfected the art of going to court to stop the debt-buying agency from taking possession of their assets.According to him, court processes could take up to 10 years, as debtors are willing to go to any length, including getting to the Supreme Court, in delaying suits filed against them. “Obligors in court just want to buy time to continue to live with their lifestyles, which is more important to them than paying up their debts,” he noted.

Kuru, who declined to disclose the identities of the big boys, because he did not “want to fight them on the pages of the newspapers” since the cases are still ongoing, however, vowed that AMCON would recover every penny owed government.

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http://guardian.ng/news/10-big-boys-hold-economy-to-ransom-owe-amcon-n1tr/

It’s Criminal To Owe LG Workers 18 Months Salaries- Ize-Iyamu

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The PDP candidate, Pastor Osagie Ize-Iyamu, yesterday described as criminal the failure of APC governments to pay council workers for 18 months while the state government is allegedly doling out N120 million to female supporters of Governor Oshiomhole.

Assuring the citizens that their weeping would soon be over, Ize-Iyamu was quoted in a press statement issued by his campaign, in reaction to a peaceful protest by local government workers over non payment of their salaries, yesterday.

“It is only a wicked, insensitive and irresponsible governor that will deny the workers their salaries, especially when Oshiomhole just donated N120 million to some selected market women at the Dr. Osaigbovo Ogbemudia Staduim, Benin-City, thanking them for supporting his administration.

‘’How did he spend the $225 million loan he took from the World Bank, which he said would improve the investment climate and increase the internally generated revenue of the state?

‘’How can the governor justify the N18m he pays to the Nigerian Television Authority (NTA) and Channels Television at every rally for live coverage – when workers are being owned salaries?

‘’Is it right and just for Oshiomhole to be giving each local government council N18m anytime he goes for campaign, spends millions of naira hiring touts and hoodlums and yet, the welfare of government workers means nothing to him?”

Credit: Vanguard

Nigerian Army, Govt Offices Owe N60 Billion In Electricity Bills

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The Association of Nigerian Electricity Distributors says ministries, departments, agencies and the Nigerian Army are owing the Distribution Companies (DISCOs) N60 billion from 2015 to February.

Sunday Oduntan, the Executive Director of the group, said this on Tuesday at a news conference.

He said the army owed Benin DISCO N2.3 billion; Eko, N1.9 billion; Ikeja, N1.6 billion; Jos, N2 billion; Kaduna, N6.6 billion; Kano, N301 million; Port Harcourt, N1.3 billion and Yola, N435 million.

Mr. Oduntan said out of the N60 billion owed to the companies, army’s total debt stood at N15 billion.
He expressed dissatisfaction with the situation, particularly with the army.

He pleaded with President Muhammad Buhari to assist the distribution companies to ensure that the army paid its energy bills.

According to him, power sector requires $40 billion to ensure adequate, reliable and stable power supply in the country.

He added that the companies had improved on their facilities by installing smart prepaid meters, taken customers’ enumeration and installing new technologies for adequate electricity.

Credit: PremiumTimes

Jonathan, PDP Owe Decoration Firm N360m

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Less than 48 hours to the inauguration of a new administration, the company which handled the contract for the decoration of Peoples Democratic Party presidential campaigns in all the states of the federation on Wednesday threatened to drag President Goodluck Jonathan and the party to court over unpaid debts estimated at N360m.

The decoration firm has, however, scheduled a protest for today (Thursday) at the PDP Headquarters in Wadata House, Abuja to possibly prevail on the party to release its funds.

The Managing Director of Twinkles World Ltd., Mr. Tunde Agarawu, and the Project Coordinator, Mr. Awonaiya Olayemi, at a press briefing in Abuja, said their lawyer had already issued a seven-day ultimatum on the PDP Presidential Campaign Organisation within which to offset the debt or face a legal action.

Agarawu said since Jonathan lost the presidential election to Muhammadu Buhari, he and the PDP hierarchy had failed to pay most debts incurred for the campaigns.

He alleged that Prof. Jerry Gana and other members of the PDPPCO deliberately withheld their money, even though a directive had been given by the immediate-past chairman of the party, Adamu Mu’azu, that the debts be cleared.

While several efforts by journalists to get Jerry Gana for response were not successful, calls and text messages to his Personal Assistant, Mr. James Agbo, over the same matter were not replied.

Agarawu, who said no mobilisation fund was given to them before the commencement of the project, added that banks and corporate bodies where they sourced loans to execute the project were already demanding for payment of their funds.

Credit: punchng