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Tue. Oct 28th, 2025
Trending News: Wole Soyinka Reveals Possible Reason for US Visa BanSenate Hails Tinubu, NFIU, Others As Nigeria Exits FATF Grey ListUS Revokes Wole Soyinka’s VisaDrug Parties Are Illegal, NDLEA Warns Club Owners, Fun SeekersNIHOTOUR, Circuits Partner to Digitise Hospitality, Culinary EducationEXCLUSIVE: Coup Plot: Nigerian Army Raids Abuja Residence Of Buhari’s Former Petroleum Minister, Timipre Sylva, Arrests BrotherWASSCE: WAEC Debunks Subject Restriction RumourBREAKING: Plane Carrying Foreign Tourists Crashes In Kenya, All Passengers Feared DeadEXCLUSIVE: Tinubu Government Releases Only 36% Of Nigeria’s Health Budget For Capital ProjectsMinister Inaugurates Federal Steering Committee for Women Programme Scale-Up ProjectHouse of Lords Honours Edo Education Commissioner with Euroknowledge Leadership Award#EndSARS, #FreeNnamdiKanu: Lessons and ChallengesKaduna: Group Raises the Alarm over Renewed Activities of Bandits in Kachia, KajuruFUDMA Affirms Othman as Substantive Vice-chancellorFarmers, Agribusiness Owners Urged to Embrace Irrigation for Food SustainabilitySTL Capital, COPE Sustain Breast Cancer Awareness CampaignAll Igbo States are One, United, Says Anioma MovementOdii, Jimmy-Eboma to Lead Discussions at SSE Lab’s MBA Business ShowersBREAKING: Kidnappers Abduct 10 Passengers In Edo, Demand ₦20million As Insecurity Worsens Under Governor OkpebholoOne Dead, 26 Rescued from Lagos Building CollapseAmupitan: Court Can’t Continue to Decide Election Winners, It Must Be at Polling UnitsADC: FG Manipulating Food Prices for Political GainsLotus Bank Sues 45 Banks Over N1.13bn Lost in System GlitchTinubu Leads Others in Tributes for Late Statesman, Christopher KoladePDP Yet to Learn Its Lessons as Party Denies Lamido Nomination Form for ChairSEC DG: Nigeria’s Delisting from FATF Will Boost Investor ConfidenceZainab Bagudu Harps on Early Release of Funds, Prudent Use for Cancer TreatmentTunji Bello Hails Court Rulings Upholding Consumer RightsNigeria’s Push Toward Globalisation and Role of PaymentsGrassroots Development: How Obio/Akpor Council is Strategising for Better and Effective LeadershipCAN OBI RETURN WITH THE SAME FURY?CAMEROUN AND GERONTOCRACYIn memory of Mrs. Nana RawlingsTUNDE OGBEHA: A CELEBRATION‘LFZ Remains Best Investment Destination for Nordic Businesses in Nigeria’LCCI: Nigeria’s N4.46trn Livestock Import Bill in 5yrs Reflects Weak Domestic InvestmentDespite Slow Growth, Nigeria’s Gas Output Jumps 11% , Domestic Deliveries RiseHow SROL is Redefining Sustainable Mining in NigeriaEx-Banker Fined N4m for Producing Cannabis-Laced DrinkSanwo-Olu, Fagbemi, Others, Call for United African Front Against Human TraffickingMakanjuola: Fuel Subsidy Removal, Exchange Rate Harmonization, Steps Towards Resetting Economy for Sustainable DevtAGF Denies Abusing Court Process in Alleged Criminal Defamation Suit against Akpoti-UduaghanEx-Governor Lamido Kicks After Being Denied PDP Chairmanship Nomination FormTinubu Meets New Service Chiefs at State HouseFG Sets Up Committee to Clear GenCos’ Outstanding DebtsNigeria’s Democracy Risks Collapse Without Electoral Integrity, Jega WarnsUnderaged Candidates: JAMB Approves Admission for 85 Exceptional StudentsCEO: Ntel Re-enters Telecoms Market Q1 2026 As Digital First, Infrastructure-light MVNOSenate Leader, Bamidele, Restates Support for OyebanjiGombe Politics: The Travails of a Diminishing Godfather60-year-old Orphanage Owner, Others Arrested for Child TraffickingDemolition Protest: Stay Out of Lagos, Police Warn SoworeSenator Adeola Intervenes in 12  Electricity Projects in OgunNiger Governor Bago Allegedly Gifts N1billion Waterboard Land Meant For Public Use To Ally, Shehu KabiruFoundation Extends Scholarship Indigent Students in UNIZIK, COOU, OthersAPC Zamfara Slams Shinkafi, Praises Tinubu’s War on InsecurityAlleged Terrorism Charge: Kanu Makes U-turn on Defence, Maintains He Has No Case to AnswerGovt Urged to Recognise Dokpesi’s Contributions to BroadcastingDelta Communities to Shut Down  NEPL’s Operations over Failure to Fund HCDTDeltaDelta Communities to Shut Down  NEPL’s Operations over Failure to Fund HCDTBREAKING: Awaiting Trial Inmate In Same Kuje Prison Clinic With Nnamdi Kanu’s Lawyer Dies OvernightArtisan Wins ‘Salary for Life’ in Access Bank PromoFani-Kayode: God Sent Uba Sani to Restore Peace, Unity in KadunaBREAKING: Tension As Police Teargas, Bar Journalists, Lawyers From Entering Kuje Court Ahead Of Sowore’s AppearanceUniversity Of Nigeria Hospital Enugu Accused Of Giving Out Three Children To Unknown Parties After Mother DiedBREAKING: Delta Government Files Fresh Criminal Charges Against Journalist Fejiro Oliver For Alleged Defamation, CyberstalkingAdedeji: FIRS Collected N22.59tn in 9 Months, N47.39tn in 2 YearsLamido Joins PDP National Chairmanship Race, Picks Nomination Form TodayDangote Projects Over $55bn Annual Revenue from Refinery as Afreximbank Considers Fresh $5bn Expansion CreditPTI Conference Ends in Abuja, Stakeholders Seek Gas Sector GrowthHYPREP Achieves 94% in Phase One of Mangrove Restoration InitiativeNEITI: Nigeria’s Exit from FATF List ‘ll Lower Transaction Costs, Improve Global Capital AccessPINL Expands Oil, Gas Surveillance,  INC, IYC Laud EffortsAgama: 3m Nigerians Invest in Capital Market, 60m Engage Daily in Gambling ActivitiesLafarge Africa PLC Records 63% Revenue Growth of N780.48bn in 9 MonthsN157m Judgment Debt: Energy Commission Yet to Comply with AGF’s Directive 8 Months AfterNECO Expands Reach, Opens UK Examination CentreFG Launches Scheme to Empower Teachers with Mobile Devices, Free DataDettol Sounds Alarm on Hand Hygiene, Canvasses Collective Action to Save LivesAir Peace Marks Historic Abuja–Heathrow Launch, Powers Nation’s Aviation FootprintAlake: Why Nigeria is Best for Global Mineral InvestmentNAFDAC Moves to Eliminate Industrially-produced Trans Fats Linked to Heart DiseaseFCTA Targets Vaccination of All Eligible Children Against Measles, RubellaNigeria to Host Maiden IPI Africa MeetingOPSN Seeks Tinubu, Akpabio’s Intervention to Avert Politicisation of NSITF’s Management Board Via Legislative AmendmentQ2: Insurance Sector Written Premium Hits N1.21trnRogues Gallery: Five Top Police Officers Who Have Tried To Kill Sowore In Past Years During Civil ProtestsDangote Refinery Signs Deal with Technology Licensor to Raise Capacity to 1.4m bpd in Three YearsS’east PDP Lawmakers Threaten to Boycott Party’s Convention CITN Pays Tribute to Late Pioneer President, David OlorunlekeNECO Expands Reach, Opens UK Examination CentreBREAKING: Armed Policemen, Thugs Attack Oworonshoki Residents As Lagos Government Task Force Resumes DemolitionBREAKING: Lagos Government Task Force Teargasses Residents, Resumes Demolition In Oworonshoki, Leaving People Homeless, FearfulHow Deputy Speaker Kalu’s Push Got Constitution Review Committee’s Nod for Additional State for South EastFrozen Accounts: MFM Alleges Discrimination by UK CommissionRep Dasuki Makes Historic Sacrifice, Declines Re-election into House of Reps to Pave Way for Younger LeadersN’Assembly Joint Committee Proposes New State for South-EastPDP Unfazed by Litigation, Appoints Jegede as Head of 13-member Convention Screening CommitteeNwogu Applauds Air Peace on Inaugural Flight to Heathrow AirportOramah: Afreximbank’s Financial Position Grew Almost Eightfold During My TenureGovernors: Removal of Nigeria from Grey List of FATF Evidence of Tinubu’s Financial Discipline, Integrity 
Tue. Oct 28th, 2025

SIC Financial Services moves to recover over GHS 615 million in legacy debts

SIC Financial Services Ltd is currently battling legacy debts totaling about GHS 615.7 million, comprising GHS 67.7 million in operational debts and GHS 548 million owed to clients.

While the company continues to explore potential support through a government bailout or Public-Private Partnership (PPP) arrangements, the new Management and Board of Directors are actively implementing measures to recover outstanding amounts from debtors. As part of this initiative, SIC Financial Services Ltd has engaged Supreme Credit Management under a formal contract to pursue recovery from the following debtors:

1. Name: Huge Star Co. Ltd

Loan/Facility Date: March 2014

Current amount + interest: GHS 2.1 million

2. Name: Legacy General & Construction Ltd

Loan/Facility Date: April and May 2014

Current amount + interest: GHS 20.5 million

3. Name: Jakfradu’s Construction Works 

Loan/Facility Date: December 2017

Current amount + interest: GHS 665.4 thousand

4. Name: Intellect Group 

Loan/Facility Date: March 2015

Current amount + interest: GHS 393.8 thousand

5. Name: Marakaf

Loan/Facility Date: January 2012

Current amount + interest: GHS 2.7 million

6. Name: Temabas

Loan/Facility Date: December 2013

Current amount + interest: GHS 8.3 million

7. Name: Sungmambo 

Loan/Facility Date: June 2018

Current amount + interest: GHS 702.8 thousand

The post SIC Financial Services moves to recover over GHS 615 million in legacy debts appeared first on The Herald ghana.

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