Nigeria: NDIC Urges Politicians to Pay Back Loans

Nigeria Deposit Insurance Corporation (NDIC) has read the riot act to politicians who owe the liquidated banks to pay back such debts. The corporation made the appeal in Abuja while playing host to the members of the House Committee on Banking and Currency who were in the place to perform their oversight functions.

Receiving the honourable members, the NDIC managing director/chief executive officer, Mr Ganiyu Adewale Ogunleye, urged the honourable members to prevail on debtor politicians to pay back their debts.

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Sprint to Write Off Up to $31B in Nextel Value

"When Sprint did the [Nextel] deal, it seemed to make a lot of sense," telecom industry analyst Jeff Kagan told the E-Commerce Times. "Like with all deals, all the pieces had to work, but the deal at that time looked good. Now, a few years later when the results are not yet there, we can question if they should have done it. That's a tough position for a company to be in."

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