TheCable News

The Debt Management Office (DMO) says Nigeria’s total public debt — federal and state governments — hit N49.85 trillion at the end of the first quarter (Q1) of 2023. The figure represents an increase of N3.60 trillion compared to N46.25 trillion recorded at the end of December 2022. In a statement issued […]

Nigeria is reportedly owing about $3 billion to trading houses and oil majors for crude oil swap arrangements, through which the country imports petroleum products. The country is also said to be four to six months behind schedule for the repayment in crude, four traders and executives told Reuters on Friday. The […]

Yevgeny Prigozhin, leader of Wagner Group, a private mercenary force in Russia, has mobilised his troops against the country’s military and President Vladmir Putin. Prigozhin said his fighters had crossed the border from Ukraine into Russia and would destroy anyone in their way, including roadblocks and aircraft. Wagner, established in 2014, […]

The Securities and Exchange Commission (SEC) has debunked claims that it has not published its annual reports and accounts for years. In a statement on Friday, the SEC said media reports had insinuated that the commission has not audited its financial statements since 2014. The agency denied the assertions, describing them as […]

The Peoples Democratic Party (PDP) and its presidential candidate Atiku Abubakar as well as Peter Obi, candidate of the Labour Party (LP), have closed their respective cases before the presidential election petition court. Here are the major highlights of Friday’s proceedings. PDP, ATIKU CLOSE CASE The PDP and Atiku closed their […]

Eterna Plc, Emadeb Energy Services Limited, and Asharami Energy have been licensed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to import petrol into the country, TheCable understands. According to sources, the three companies were the first among the six oil firms licensed to import petrol by July. “The licensed […]

President Bola Tinubu says his administration is ready to improve Nigeria’s relationship with other African countries. Tinubu spoke on Friday during a meeting with Patrice Talon, president of the Benin Republic, after the summit on a new global financing pact in France. The Nigerian president told his Beninoise counterpart that his administration […]

Ned Nwoko, businessman and senator representing Delta north, says he was supposed to join the tourists who lost their lives in an underwater trip to see the Titanic wreck. Nwoko spoke on Friday in a post via his Instagram while mourning Hamish Harding, a British businessman and his friend who was among the […]

The court of appeal sitting in Calabar, has upheld the conviction of Bassey Akpan, governorship candidate of the Young Progressives Party (YPP) in Akwa Ibom state, over money laundering charges. In a statement on Friday, Wilson Uwujaren, spokesperson of the Economic and Financial Crimes Commission (EFCC), said the court has ordered the arrest […]