Fresh loan may raise debt servicing to N3tr
The nation’s budgetary provisions for debt servicing could rise to N3 trillion if the Federal Government goes ahead with its $29.96 billion loan request.
‘65% loan to deposit ratio a good policy to assist real sector’
Following the directive by the Central Bank of Nigeria (CBN), to raise the Loan to Deposit Ratio (LDR) of banks to 65 per cent to assist the real sector, financial directors have described the policy as a welcome development.
Mining stakeholders knock government’s rules on accessing N15b loans
Local miners have complained that the stringent measures put in place by the government have hindered them from accessing the N15 billion facility loans meant to boost the mineral sector in the country.
World Bank in talks with Nigeria for fresh $2.5 billion loan
The World Bank and Nigeria are in talks for as much as $2.5 billion in a new tranche of concessionary lending to Africa’s most populous country, Vice President for Africa Hafez Ghanem said. In the past year Nigeria received $2.4 billion from the World Bank, Ghanem said in an interview in Abuja, the West African…
Kebbi: 9000 fishermen to benefit from FG’s MSME loan
Vice PRESIDENT Yemi Osinbajo has said that over 9000 fishermen will benefit from the Micro, Small and Medium Enterprises loan in Kebbi State. He stated this yesterday at the lunch of the 24th Edition of National micro, small and medium Enterprises clinic held in Birnin Kebbi, adding that the Federal Government is ready to bail 10 million Nigerians out of poverty by 2020.
CBN adopts new measure to tackle loan default, rising NPLs
In a move to tackle issues of loan default and rising Non-Performing Loans (NPLs) in the banking industry, the Central Bank of Nigeria (CBN) has announced an introduction of a credit protection clause that would be attached to offer letters of banks going forward.
‘Enabling low-income schools with loan facility will improve access to basic education’
At a time when the number of Nigeria’s out-of-school children is rising with government doing little or nothing to expand access to basic education, Segmentico Limited, an innovative financial company has pledged its commitment to continually empower low-income schools through its loan facility. Before now, managers of low-income schools have lamented inability to obtain loan…
Firm initiates ‘WeyMoney’ to boost clients access to loans
A real estate firm LandWey Investment Limited has created a customer-centric solution that would help customers have access to loan facility for its subscribers called ‘WeyMoney’. According to the firm, WeyMoney is a loan facility with single digit interest rate and enable clients maintain their financial stability and see their investments reach fruition. Founder and Chief Executive…
FMBN disburses N132.5m housing loan to Lagos workers
Apex mortgage institution, Federal Mortgage Bank of Nigeria (FMBN) has disbursed a total of N23.3billion under its (HRL) Home Renovation Loan scheme. Out of this, N132.520 million has been given to members of Lagos State Public Servant Housing Cooperative. FMBN Managing Director, Ahmed Dangiwa who made this known during the presentation of the symbolic cheque…
Lapses in guide to bank charges
Apparently in response to my earlier widely publicized write-up, When a regulator aids and abets illegalities, the spokesman of Central Bank of Nigeria (CBN) and his colleague, the Director of Banking Supervision were on Channels Television programme “Sunrise” the other day, in what turned out to be defending the indefensible. What the CBN big wigs…
Senate probes Kogi government over alleged illegal’ N180b foreign loan
The Senate has resolved to investigate the Kogi State government over alleged borrowing of $500 million (N180 billion) from the United Arab Emirates without the required constitutional authorisation from the upper chamber. It, therefore, mandated its committee on local and foreign debts to probe the allegation and establish the approach used to access the loan,…