Association’s leader urges members to repay Anchor Borrowers’ loans
Rice Farmers Association of Nigeria (RIFAN), Nasarawa State chapter, has urged members to repay the farm inputs loan they received under the Federal Government’s Anchor Borrowers
Delta, BOI partner on zero interest loans for SMES
The DELTA State Government in collaboration with the Bank of Industry is set to offer zero-interest loans to market women and Small and Medium Entrepreneurs, (SMEs) in the state.
CBN’s arbitrariness on mortgage loans
The Central Bank of Nigeria’s (CBN) recent circular, which removed “interest rate and cap in respect of Part 2 Section 2.1.3 (Mortgage Finance)” in the Guide to Charges by Banks and Other Financial Institutions in Nigeria, should be of immense interest and concern to people who have had their hopes deferred about housing for all.
Micro Finance Bank disburse N565.6m loans in H1 2019
Umuchinemere Pro-credit Micro Finance Bank (UPMFB), said it disbursed about N565.6million in loans to 2,503 micro and small business operators in the first half (H1) of 2019, in various sectors of the economy.
Extramile Africa offers N4m soft loans to MSMEs
To drive financial inclusion and social empowerment for Micro, Small and Medium Enterprises (MSMES), a fintech firm, Extramile Africa, has offered N4 million worth soft loans. The initiative, which flagged off its pilot scheme in Akure, Ondo State, also launched her mobile/merchant app and USSD code. Co-founder and Chief Executive Officer (CEO), Extramile…
Firm holds inaugural cooperative confab May 22 in Lagos
A financial technology company that helps cooperatives save, get loans and invest their wealth, Riby, is holding its maiden Cooperative Conference on May 22 2019 at Regency Hall in Alausa, Ikeja, Lagos. With “Strengthening cooperatives to provide life’s basic needs” as theme, the event promises a robust deliberation as stakeholders share cutting-edge ideas for benefits…
NCR urges banks to accept movable assets for loans
The National Collateral Registry (NCR) has appealed to commercial banks in the country to accept movable assets as collateral to increase the quantum of borrowing to small businesses. Its Registrar, Mohammed Mainasara, made the call in an interview with the News Agency of Nigeria (NAN) at the 27th Seminar for Finance Correspondents and Business Editors…
Bank of Agriculture recovers N7 billion loans
The Managing Director of Bank of Agric (BOA), Kabiru Adamu, yesterday said the organisation in the last two years under his watch recovered over N7 billion from farmers. He made the disclosure in Kaduna during a meeting with the Managing Director of Lead Capital Consortium, Dr. Wale Adewunmi. The consortium is saddled with the responsibility…
FG tasks NDIC on non-performing loans in banks
The Federal Government has stressed the need for the new board of the Nigerian Deposit Insurance Corporation (NDIC), to urgently address the issues of Non Performing loans in the nation’s banking sector, warning that government is no longer prepared for a repeat of past mistakes. Vice President, Prof Yemi Osinbajo, who gave the charge, also tasked the…
Loans, love, China and Africa’s sovereignty
The statement made the other day by the former United States Secretary of State, Rex Tillerson, counselling African countries not to compromise their sovereignty when engaged in economic dealings with China, should not be dismissed as a rival’s balderdash the way some overly Afrocentric analysts are wont to do. Even though, self-interest may not be…
Government admits N2.7tr legacy debts created NPLs in banks
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...