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| Minister of Finance, Mrs. Kemi Adeosun, admitted that these debts need not be prolonged anymore, as the oldest is dated 1994, while the obligations include money is owed to state governments, contractors, oil marketers, as well as power generation and distribution companies. |
The Federal Government
has admitted that the backlog of contractual debts and outstanding welfare
issues like pensions valued at ₦2.7 trillion contributed the worsened
Non-Performing Loans in the nation’s banking industry.
