Job losses loom as N3.9trn debt may cripple 22 firms

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A report says 22 companies listed on the Nigerian Exchange face a combined N3.9 trillion in debt, with some holding cash covering only a fraction of their borrowings. The debt burden could threaten jobs, while other firms have substantially stronger cash positions.

A wide disparity in the ability of companies listed on the Nigerian Exchange Limited, NGX, to cover their debt obligations with cash has emerged, with some companies holding several times more cash than debt, while others have cash covering only a fraction of their outstanding borrowings. The post Job losses loom as N3.9trn debt may cripple 22 firms appeared first on Vanguard News.