Tag "loan"

    Shehu Sani: We once rejected Buhari’s $30bn loan request to save Nigeria from recolonisation

Shehu Sani: We once rejected Buhari’s $30bn loan request to save Nigeria from recolonisation

Shehu Sani, ex-chairman of the committee on local and foreign debts in the previous senate, has defended the lawmakers’ decision to reject a $29.96 billion loan request from President Muhammadu Buhari.In a statement on Friday, Sani said the senate at the time rejected the request to save Nigeria from being ''recolonised by creditor banks''.The president first forwarded the request captured [...]

0 comment Read Full Article
    World Bank warns of danger in signing non-disclosure agreements for loans

World Bank warns of danger in signing non-disclosure agreements for loans

The World Bank has warned that countries should stop signing non-disclosure agreements while negotiating from lenders.David Malpass, the World Bank president, made this known on Thursday at the opening press conference of the annual meetings of the International Monetary Fund (IMF) and World Bank Group."The challenge is countries that are developing a need to have debt, they need to have [...]

0 comment Read Full Article
    FG: Public servants not repaying housing loan

FG: Public servants not repaying housing loan

Hannatu Fika, executive secretary of the Federal Government Staff Housing Loans Board (FGSHLB) has lamented over the non-repayment of loans collected by some public servants.Speaking on Friday when she inspected some of the estates under the scheme in Abuja, Fika said the houses remain properties of the federal government until the owners liquidate their loans.In June 2018, the government had announced that [...]

0 comment Read Full Article
    Abiodun: Amosun left empty treasury… I took N7bn loan to pay May salaries

Abiodun: Amosun left empty treasury… I took N7bn loan to pay May salaries

Dapo Abiodun, governor of Ogun state, says he took a loan of N7 billion to pay workers’ salaries in May.Abiodun, who disclosed this while addressing leaders of the All Progressives Congress (APC) in the state, said he met no money in the treasury.The governor said he cannot disclose details of the situation he met upon assumption of office but that [...]

0 comment Read Full Article
    FEC approves $1bn Chinese loan for power project

FEC approves $1bn Chinese loan for power project

The federal executive council (FEC) has approved a fresh $1 billion Chinese loan for a power project.The approval was given at a meeting presided over by President Muhammadu Buhari at the presidential villa, Abuja, on Wednesday.Confirming the loan approval, Suleiman Adamu, minister of water resources, said it will be obtained from the China-Exim Bank for the Gurara II Hydropower project.According [...]

0 comment Read Full Article
    Here’s how to get a single-digit interest loan from your bank

Here’s how to get a single-digit interest loan from your bank

The Central Bank of Nigeria, on Monday, released the guidelines for its new credit policy, which is aimed at providing funds to the agriculture and manufacturing sector at a single digit interest rate.According to the guidelines, the maximum amount accessible by a party is N10 billion.The loans can be received from any bank which has contributory cash reserve ratio with [...]

2 comments Read Full Article
    Bank loans to private sector declines by N600bn in 18 months

Bank loans to private sector declines by N600bn in 18 months

The total loans granted by banks to the private sector declined by N600.60 billion, from N16 trillion in the first quarter of 2017 to N15.34 trillion, in the second quarter of 2018.A report by the National Bureau of Statistics (NBS) on Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength (Q2 2018), showed that credit to [...]

0 comment Read Full Article
    FG to empower 2m traders with collateral-free loans

FG to empower 2m traders with collateral-free loans

The federal government has launched a new initiative to empower two million petty traders between now and the end of 2018.The new initiative called Trader Moni was launched under the Government Enterprise and Empowerment Programme (GEEP).According to a statement issued by Laolu Akande, spokesman to Acting President Yemi Osinbajo, the micro credit scheme would grant a minimum of 30,000 loans [...]

0 comment Read Full Article
    World Bank approves $2.1bn loan for Nigeria

World Bank approves $2.1bn loan for Nigeria

The World Bank says it has approved a loan of $2.1 billion for seven projects in Nigeria.Earlier in the year, top executives from the bank toured some projects in the country.According to a statement released on Thursday, the seven projects cover areas like nutrition, access to electricity, states’ fiscal transparency, polio eradication, women’s economic empowerment, public finance and national statistics [...]

0 comment Read Full Article
    EXCLUSIVE: Kogi borrowed billions from banks — despite Paris Club refund and bailouts

EXCLUSIVE: Kogi borrowed billions from banks — despite Paris Club refund and bailouts

The Kogi state government obtained loans of at least N16 billion between May 2017 and January 2018, TheCable can report.This is despite over N20 billion which accrued to the state from the Paris Club refund.Paris Club refund is a partial settlement of long-standing claims by state governments relating to over-deductions from their federation account allocation committee (FAAC) disbursement for external [...]

0 comment Read Full Article
    Kaduna senators ask banks to reject ‘loan request’ of el-Rufai’s government

Kaduna senators ask banks to reject ‘loan request’ of el-Rufai’s government

Senators from Kaduna state have accused Nasir el-Rufai, governor of Kaduna, of using private companies to procure foreign loans.The Kaduna senator had blocked a $350 million loan from the World Bank requested by the state government.Shehu Sani, senator representing Kaduna central, said the loan would further erode the economic viability of the state.The governor had described the lawmakers as the [...]

0 comment Read Full Article
    World Bank: African countries’ subsidies help the rich more than the poor

World Bank: African countries’ subsidies help the rich more than the poor

Jim Yong Kim, World Bank president, says subsidies provided by African countries help the rich more than the poor.Speaking to journalists at the ongoing Spring meetings of the International Monetary Fund (IMF) and World Bank in Washington DC, Kim said African countries could raise revenue for investing in health and education by removing these subsidies."They should be better at collecting [...]

0 comment Read Full Article
    I regret criticising World Bank over $350m loan, says Kaduna deputy governor

I regret criticising World Bank over $350m loan, says Kaduna deputy governor

Barnabas Bantex, deputy governor of Kaduna State, has expressed regrets over the comments he made on the senate's rejection of $350m loan request by the state government.Bantex, who represented Nasir El-Rufai, governor of Kaduna state at the law week of the Nigerian Bar Association (NBA), Barnawa, Kaduna chapter on Monday, had declared that the World Bank would not grant loan to [...]

0 comment Read Full Article
    $350m loan: Kaduna accuses senators of  putting their frustrations above public interest

$350m loan: Kaduna accuses senators of putting their frustrations above public interest

Following the senate’s rejection of a request for a $350 million loan, the Kaduna state government has accused the three senators from the state of working against the people of the state.The senators are Shehu Sani (Kaduna central), Suleiman Hunkuyi (Kaduna north) and Danjuma Laah (southern Kaduna).Speaking at a news conference on Friday, Suleiman Abdu Kwari, commissioner for finance, alleged that the senate elevated [...]

0 comment Read Full Article
    Your claims about our loans are ridiculous, China tells US

Your claims about our loans are ridiculous, China tells US

The government of China says the claims made by the US government through Rex Tillerson, secretary of state, concerning its loan facilities to Africa are ridiculous.Tillerson, who is on his diplomatic visit to Africa, had described the rate at which China offered loans as terrible. He warned that African countries could lose their sovereignty if they are not careful.Reacting to [...]

0 comment Read Full Article
    Daura farmers ‘get N412m worth of assistance’ from CBN

Daura farmers ‘get N412m worth of assistance’ from CBN

About 1,500 rice farmers in Daura, Katsina state, have received various farming implements under the phase 11 of the Central Bank of Nigeria (CBN) anchor borrowers scheme.Nura Baure, chairman, Daura chapter of the Rice Farmers Association of Nigeria (RIFAN),  disclosed this during the distribution of farming implements to registered farmers on Thursday.Daura is the hometown of President Muhammadu Buhari.According to [...]

0 comment Read Full Article
Advertisement
Advertisement
Advertisement

Advertisement

Exchange Rates

December 05, 2019USDGBPEUR
INTERBANK306397354
LAGOS355444389
KANO354445370
PH355447412
ABUJA356454413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement