Banks’ loan to private sector hits highest level in 2021

February 18, 2022 Segun Odunewu 0

Bank credit to the private sector hit its highest level in December 2021, reaching N35.73 trillion from N30.15 trillion recorded as of December 2020, representing a N5.58 trillion increase in one year. This is according to data obtained from the Central Bank of Nigeria. The private sector wasn’t the only one benefiting from increased access to funds, hence, credit to Read More

Loans from China now $3.59bn, says DMO

December 20, 2021 Blueprint 0

The Debt Management Office (DMO)has clarified that loans from China to Nigeria, which presently stood at $3.59bn, constitutes only 9.4 per cent of the country’s total foreign debt stock of $37.9bn. The director-general of DMO, Ms Patience Oniha, stated this in an interview Saturday in Abuja. She also clarified that the loans were largely concessional, as no national asset was Read More

Food production: Cooperative to assist farmers with loans

November 26, 2021 John Oba 0

The national president of Nigerian Farmers’ Cooperative Societies (NANFACOS), Mr. Nwogwugwu Uzoma, has promised to assist farmers in the country in accessing loans. Uzoma said the loan would be used to purchase agricultural inputs, seedlings, and other materials to boost food production. He gave the pledge on Friday at a press conference in Abuja to address the challenges of farmers Read More

Kwara disburses interest-free loan to 30,000 more beneficiaries

November 3, 2021 Umar Bayo Abdulwahab 0

Kwara state Governor AbdulRahman AbdulRazaq Wednesday flagged off the disbursement of non-interest loans to another round of 30,000 beneficiaries of its social investment programme. With Wednesday’s disbursement, the number of beneficiaries has increased to 60,000 since the scheme kicked off last year. “Between 2020 and now, we have disbursed soft loans to 30,000 beneficiaries. Today’s event marks the commencement of Read More

Fani-Kayode: Nobody can stop defectors into APC – Party chieftain

September 21, 2021 Bode Olagoke 0

A chieftain of the All Progressives Congress (APC) in Bauchi state and state chairmanship aspirant, Hon. Hamidu Saidu Sani, has said no one can stop anybody from decamping to the ruling party from another party. The APC chieftain was reacting to outrage following the recent defection of former Avaition Minister Femi Fani-Kayode into the ruling APC. Saidu made this clarification Read More

We’re borrowing for the good of Nigerians, APC tells PDP

September 15, 2021 Bode Olagoke 0

The ruling All Progressives Congress (APC) has replied criticism by the opposition Peoples Democratic Party (PDP) over its borrowing spree, saying the act “is for the good of the country.” In a statement signed Wednesday in Abuja by the National Secretary Caretaker/Extraordinary Convention Planning Committee (CECPC), Sen. John James Akpanudoedehe, the ruling party said unlike in the brazen looting days Read More

APC group lauds Buhari’s strategic responses to Covid-19 pandemic

September 15, 2021 Bode Olagoke 0

A group of the ruling All Progressives Congress (APC) on the aiges of APC Legacy Awareness and Campaign (APC-LAC) has commended the firm responses of President Muhammadu Buhari-led administratiom to the Covid-19 pandemic. The group, which is a voluntary think-tank group of the governing party, particularly lauded President Buhari’s setting up of an Economic Sustainability Committee chaired by the Vice Read More

Bauchi gov empowers 1, 000 youth, women in Bogoro, T/Balewa LGs

September 13, 2021 Najib Sani 0

Governor Bala Mohammed of Bauchi state Monday empowered 1, 000 youth and women in Bogoro and Tafawa Balewa local governments of Bauchi state with occupational equipment and cash to boost their businesses. The governor assisted 500 beneficiaries in each of the local governments where 250 people were given items including grinding machines, sewing machines and motorcycles while 250 others were Read More

CBN pegs loan limit for rural microfinance banks at N500,000

August 23, 2021 Segun Odunewu 0

The Central Bank of Nigeria (CBN) has instructed microfinance banks operating in the rural areas not to exceed its credit facility to customers beyond N500,000. This was stated in a circular to all microfinance banks, titled “Cessation of Non-permissible Activities by Microfinance Bank dated August 19, 2011 and signed by Ibrahim Tukur, for the financial polier and regulations department of Read More

Privacy invasion: NITDA sanctions Soko loans N10m

August 19, 2021 Ayoni M. Agbabiaka 0

National Information Technology Development Agency (NITDA) has sanctioned an online lending platform, Soko Lending Company Limited (Soko Loans) for privacy invasion. NITDA, in a statement made available to newsmen on Tuesday said the action was taken after receiving series of complaints against the company for unauthorized disclosures, failure to protect customers’ personal data and defamation of character as well as Read More

The second coming of electicity subsidy withdrawal

August 9, 2021 Editorial IV 0

Yemi Osinbajo stirred the hornet’s nest in his recent speech at a function in Abuja when he re-ignited the thorny issue of electricity subsidy. The vice president warned that from 2022, consumers would be paying market price for electricity supply.Osinbajo’s message was loud and clear. The federal government is poised to end subsidy on electricity by 2022. Up to the Read More