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Debtors Africa News

CBN Directive On Loan Defaulters: GTB CEO, Segun Agbaje Shares Perspective
Sunday, 10 May 2020
CBN Directive On Loan Defaulters: GTB CEO, Segun Agbaje Shares Perspective

Following the recent directive of the Central Bank of Nigeria on loan defaulters in the country, the CEO of Guaranty Trust Bank Mr. Segun Agbaje has been sharing his perspective on the need for a robust credit system in the country.

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Henceforth, Loan Defaults Will Be Settled With Deposits From Other Banks
Sunday, 10 May 2020
Henceforth, Loan Defaults Will Be Settled With Deposits From Other Banks

The Central Bank of Nigeria (CBN) and commercial banks in the country have agreed that loan defaults will be settled using deposits made in other banks.

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PMB Signs Into Law AMCON (amendment) Act, 2019 That Empowers It Access Financial Details Of Debtors
Sunday, 10 May 2020
PMB Signs Into Law AMCON (amendment) Act, 2019 That Empowers It Access Financial Details Of Debtors

President Muhammadu Buhari has signed a new law which empowers the Asset Management Corporation of Nigeria (AMCON) to put the bank accounts of its debtors under supervision.

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FG To Enforce Recovery Of N5trn AMCON Debts
Sunday, 10 May 2020
FG To Enforce Recovery Of N5trn AMCON Debts

In a renewed and spirited effort to ensure the effective recovery of over N5 Trillion being outstanding debts owed the Asset Management Corporation of Nigeria (AMCON), a new task force has been set up to get the job done without fail.

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Supreme Court Backs BI-Courtney, AMCON to Pay N132bn
Sunday, 10 May 2020
Supreme Court Backs BI-Courtney, AMCON to Pay N132bn

The lingering battle between Bi Courtney Limited and the Assets Management Company of Nigeria (AMCON) over a N132,540,580,304.00 judgment credit was on April 5 decided in favour of Bi Courtney.

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List of AMCON’s Top 105 Debtors
Sunday, 10 May 2020
List of AMCON’s Top 105 Debtors

The Asset Management Corporation of Nigeria (AMCON) has decided to publish detailed list of all erring debtors that have failed and or refused to reach settlement resolution with the Corporation.

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A Garnishee Lacks The Power To Fight The Cause Of A Judgement Debtor
Sunday, 10 May 2020
A Garnishee Lacks The Power To Fight The Cause Of A Judgement Debtor

In Guaranty Trust Bank Plc v. Innoson Nig. Ltd. [2017] 16 NWLR (Pt. 1591) 181 at 203, paras. D-F, per Eko, JSC.

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AMCON Mulls Disengagement of Non-Performing AMPs
Sunday, 10 May 2020
AMCON Mulls Disengagement of Non-Performing AMPs

Asset Management Corporation of Nigeria, AMCON, has hinted that it would disengage Asset Management Partners (AMPs), that are unable to cope with the speed and enormous challenges of debt recovery expected by the corporation.

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All You Need To Know About Credit Bureaus in Nigeria
Sunday, 10 May 2020
All You Need To Know About Credit Bureaus in Nigeria

CREDIT BUREAUS in Nigeria: Fact Sheet

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Banks at risk of loan default, says MPC member
Thursday, 07 May 2020
Banks at risk of loan default, says MPC member

The Deputy Governor, Financial Systems Stability Directorate, Central Bank of Nigeria, Aishah Ahmad, has said banks face imminent risk of loan default from exposure to oil-related lending.

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Suspension of Debt Payments to Multilateral Development Banks a Risk to Ratings
Monday, 04 May 2020
Suspension of Debt Payments to Multilateral Development Banks a Risk to Ratings

Suspension of sovereign debt payments owed to multilateral development banks (MDBs) would be negative for MDB ratings unless they were fully compensated by their shareholders, Fitch Ratings says. The G20 and Paris Club called for MDBs to 'explore the options for suspension of debt service payments' when they announced a coordinated debt relief initiative by official bilateral creditors for the poorest countries that request forbearance.

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Other News

Why Artificial Intelligence will separate winning banks from losers amid COVID-19 - Nairametrics
Thursday, 16 July 2020

Why Artificial Intelligence will separate winning banks from losers amid COVID-19 - Nairametrics

Banks around the world were already under pressure to fully deploy Artificial Intelligence prior to the pandemic.

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Twitter freezes password reset to address cyberattack - Nairametrics
Thursday, 16 July 2020

Twitter freezes password reset to address cyberattack - Nairametrics

Users will be updated on the progress of the investigations and their account functionalities.

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OPEC+ asks Committee to monitor Nigeria, others over extended oil production cuts - Nairametrics
Thursday, 16 July 2020

OPEC+ asks Committee to monitor Nigeria, others over extended oil production cuts - Nairametrics

OPEC expects the increase in supply to be offset by countries like Nigeria

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Homebuilder sentiment jumps back to pre-coronavirus pandemic high - CNBC
Thursday, 16 July 2020

Homebuilder sentiment jumps back to pre-coronavirus pandemic high - CNBC

To find a V-shaped recovery from the economic wreckage of the coronavirus pandemic, look to the nation's single-family homebuilders.

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Cramer: 'Big money' wants to sell stocks regardless of positive earnings, stronger economic data - CNBC
Thursday, 16 July 2020

Cramer: 'Big money' wants to sell stocks regardless of positive earnings, stronger economic data - CNBC

"Let the sellers get their job done. There's some agenda here. They're obviously not caring about news," CNBC's Jim Cramer said Thursday.

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An Indian tech giant that's raised $20 billion from the likes of Google and Facebook is working on a mixed reality headset - CNBC
Thursday, 16 July 2020

An Indian tech giant that's raised $20 billion from the likes of Google and Facebook is working on a mixed reality headset - CNBC

India's Jio has announced it is working on a mixed reality headset called Jio Glass after raising billions from companies like Google and Facebook.

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The ‘real’ value of the rand right now, according to the Big Mac Index - BusinessTech
Thursday, 16 July 2020

The ‘real’ value of the rand right now, according to the Big Mac Index - BusinessTech

The latest update to The Economists’ Big Mac Index for mid-year 2020 shows that the South African rand is currently the most undervalued currency in the world.

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SA extends its longest economic slump since 1945 - Moneyweb.co.za
Thursday, 16 July 2020

SA extends its longest economic slump since 1945 - Moneyweb.co.za

'The effect on household income will likely impact overall demand in the economy' - Sarb.

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These were the 15 fastest-selling used vehicles in June - SowetanLIVE
Thursday, 16 July 2020

These were the 15 fastest-selling used vehicles in June - SowetanLIVE

There is reason for “cautious optimism” when it comes to the used car market in South Africa. That’s according to George Mienie, CEO of AutoTrader, who points to a number of positive trends in this sector of the automotive industry

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You'll be able to return a 2-litre Coca-Cola bottle & get R9 back — here're the deets - TimesLIVE
Thursday, 16 July 2020

You'll be able to return a 2-litre Coca-Cola bottle & get R9 back — here're the deets - TimesLIVE

The CCBSA's Velaphi Ratshofela says the initiative is part of the world without waste campaign.

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Twitter breach troubling, undermines trust, experts say - CBC.ca
Thursday, 16 July 2020

Twitter breach troubling, undermines trust, experts say - CBC.ca

A breach in Twitter's security that allowed hackers to break into the accounts of leaders and technology moguls is one of the worst attacks in recent years and may shake trust in a platform politicians and CEOs use to communicate with the public, experts said…

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Gold price remains under pressure as ECB holds steady course - Kitco NEWS
Thursday, 16 July 2020

Gold price remains under pressure as ECB holds steady course - Kitco NEWS

(Kitco News) - The gold market remains under modest selling pressure as the ECB hold a steady course on interest rates and extremely accommodative monetary policy.

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Futures, Stocks Retreat; Euro Steady After ECB: Markets Wrap - Yahoo Canada Finance
Thursday, 16 July 2020

Futures, Stocks Retreat; Euro Steady After ECB: Markets Wrap - Yahoo Canada Finance

(Bloomberg) -- U.S. equity futures fell with stocks as investors parsed mixed economic data and watched earnings roll in. The dollar stayed higher after American initial jobless claims posted their smallest weekly decline since March.Bank of America Corp. dro…

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Chinese shoppers aren't splashing out again just yet - CNN
Thursday, 16 July 2020

Chinese shoppers aren't splashing out again just yet - CNN

China's economy is growing again after its worst three-month period in decades. That's a good sign for everyone else — though investors aren't celebrating.

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Pizza Express to close up to 75 restaurants, risking 1,000 jobs - The Guardian
Thursday, 16 July 2020

Pizza Express to close up to 75 restaurants, risking 1,000 jobs - The Guardian

Insolvency move linked to competition and coronavirus adding to £1.1bn debts in 2018

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Twitter hack: What went wrong and why it matters - BBC News
Thursday, 16 July 2020

Twitter hack: What went wrong and why it matters - BBC News

The social network may have secured accounts but it could still face aftershocks from the attack.

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Coronavirus Northern Ireland: No further deaths reported by Department of Health - Belfast Live
Thursday, 16 July 2020

Coronavirus Northern Ireland: No further deaths reported by Department of Health - Belfast Live

The death toll in Northern Ireland stands at 556

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ECB leaves stimulus policy unchanged as it gauges pace of rebound - Financial Times
Thursday, 16 July 2020

ECB leaves stimulus policy unchanged as it gauges pace of rebound - Financial Times

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

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