Tag Archives: Debt

WASHINGTON — President Biden will meet with Speaker Kevin McCarthy at the White House on Wednesday afternoon for a discussion that carries high stakes: the need to raise the nation’s borrowing limit in order to avoid a financial crisis. The meeting will be the first between the two leaders since …

A Magistrate court in Ondo state has ordered the remand of a 43-year-old clergyman identified as Paul Oyewole who was arraigned for allegedly publishing and posting his obituary on social media in his bid to evade payment of N3 million he owed one of his church members.   Vanguard reports …

WASHINGTON — The United States hit its debt limit on Thursday, prompting the Treasury Department to begin using a series of accounting maneuvers to ensure the federal government can keep paying its bills. In a letter to Congress, Treasury Secretary Janet L. Yellen said the government would begin using what …

“Debt limit impasses have also repeatedly disrupted implementation of Treasury’s cash management policy — with knock-on effects for money markets,” Joshua Frost, assistant Treasury secretary for financial markets, explained in a speech in December. Mr. Frost added that the Treasury Department usually has a daily cash balance of $600 billion …

President Biden is already reaching out to moderate House Republicans to get a deal on raising the debt ceiling, but if the far right doesn’t get the standoff that they crave it could be curtains for Kevin McCarthy. Politico reported: The White House is already working behind the scenes to …

WASHINGTON — Treasury Secretary Janet L. Yellen warned on Friday that she would have to begin employing “extraordinary measures” to continue paying the nation’s bills this month if lawmakers do not act to raise the statutory debt limit and that her powers to delay a default could be exhausted by …

WASHINGTON — Representative Kevin McCarthy of California finally secured the House speakership in a dramatic vote ending around 12:30 a.m. Saturday, but the dysfunction in his party and the deal he struck to win over holdout Republicans also raised the risks of persistent political gridlock that could destabilize the American …

Nollywood actress, Chioma Okoye has accused her colleague Oma Nnadi of refusing to pay back a loan she collected on her behalf. Okoye took to her Instagram account to allege that Nnadi had asked her to help acquire a loan, and when it came to paying back she refused to …

It appears that debt collection season has arrived, as a number of musicians and entertainers have appeared on the internet seeking long-overdue payments and gratuities. Dammy Krane was the first to appear online, dragging Davido and demanding his money. Now, Mr. Jollof, a Nigerian comedian, has requested money from musician …

The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has threatened to disconnect banks in the country from the Unstructured Supplementary Service Data (USSD) over rising debt.   Members of ALTON include MTN Nigeria, Airtel, Glo and 9Mobile, and other telecoms operators. Some banks and the Telecom operators disagreed last …