Browsing Tag

Loan

AMCON retrieved Debt of 1trillion in 8 years – Finance Minister

News Agency of Nigeria Jan 28, 2019 0

The Asset Management Corporation of Nigeria began operations in 2010 and since that time, a total of One trillion naira has been retrieved from debtors and some banks. Nigeria’s minister of finance, Mrs. Zainab Ahmed, made the claim…

Sports

Chelsea Outcast Victor Moses Set for Loan Move

News Agency of Nigeria Jan 24, 2019 0

Nigerian winger, Victor Moses, is set to move out of Stamford Bridge to Fenerbache on loan for the rest of the season. The Chelsea player has fallen out of favour at the Bridge with Sarri using him sparingly during the course of the…

Agriculture

Nigeria to acquire $1.1b loan from Brazil to finance agricultural development

Samuel Oduoye Jan 18, 2019 0

The Minister of Finance, Hajia Zainab Ahmed has announced that the Federal Government is shopping for $1.1 billion to implement the Nigeria-Brazil Cooperation Project Agriculture “Green Imperative.” Speaking at the inauguration of the…

Government

Senate investigates Kogi Govt’s alleged plan for $500m loan

Cecilia Ijuo Nov 28, 2018 1

The Senate has mandated its committee on Local and Foreign Debts to investigate alleged plan by the Kogi Government to obtain a 500-million-dollar foreign loan without National Assembly approval. This followed a motion by Sen. Dino…

Business

185,000 applicants to access CBN loans nationwide

Awayi Kuje Nov 14, 2018 1

The National Directorate of Employment (NDE) says no fewer than 185, 000 applicants will benefit from the Central Bank of Nigeria Agri-Business Small and Medium Enterprise Investment Scheme (AGSMEIS) loans nationwide. The NDE…

Finance

More loans worsening Nigeria’s debt to revenue ratio – Don

Simon Akoje Aug 31, 2018 0

A don, Dr Dominic Agba, has warned the three tiers of government not to incur more debts as it is worsening debt to revenue ratio. Agba, who teaches Economics at Landmark University, Omu-Aran, Kwara State, gave the advice during an…

Government

Why El-Rufai Attacked Bukola Saraki- Senator

News Agency of Nigeria Jul 29, 2018 0

Rafiu Ibrahim, a PDP Senator representing Kwara state has revealed why Kaduna State Governor, Nasir El-Rufai is angry with Senate President Bukola Saraki According to Ibrahim, this is because of the Senate's refusal to approve $350…

News

Bus Driver Takes His Own Life After Being Unable To Pay Back Loan

News Agency of Nigeria May 15, 2018 0

Ayokunle a commercial bus driver, identified only as has reportedly committed suicide over an unpaid loan at Oke Ibukun, Ondo town, Ondo State. Ayokunle was found dead in his room on Saturday, he allegedly took his own life by drinking…

Business

FG, World Bank in talks for $1bn power loan

Adejumo Kester Feb 26, 2018 0

The Federal Government and the World Bank are in the final stage of negotiation for the release of $1bn performance-based loan for Nigeria’s Power Sector Recovery Programme. It was gathered that the loan was currently being prepared for…

News

African Bank Of Development Set To Increase Loans To Nigeria by $2 billion

News Agency of Nigeria Jan 24, 2018 0

The African Development Bank (AfDB) a.k.a Banque Africaine de Développement (BAD) has announced plans to increase its loans to Nigeria by over $2 billion next year in investments related to the energy, infrastructure and agriculture…

News

Birdman Ordered by Court to Forfeit Miami Mansion

News Agency of Nigeria Jan 18, 2018 0

Birdman aka Bryan Christopher Williams world-renowned rapper, record producer and entrepreneur has been ordered by the court to relinquish the keys to his $12m Miami Mansion. A company called EMG Transfer Agent, had loaned Birdman $12…

Business

Revealed! Letter Of Loan Agreement Between GTB/Innoson

News Agency of Nigeria Dec 23, 2017 0

In-depth investigation into the claim by Chief Innocent Chukwuma, the owner of Innoson Nigeria Limited, that the sum of N559,374,072.09 was withdrawn from his account by GTB is appearing to be a far exagerattion of the truth as documents…

News

UK to stabilise Zimbabwe’s currency, clear World Bank loan – Johnson

News Agency of Nigeria Nov 29, 2017 0

Britain could take steps to stabilise Zimbabwe’s currency system and extend a bridging loan to help it clear World Bank and African Development Bank arrears. Foreign Secretary Boris Johnson said on Wednesday on the sidelines of an…

Business

Senate urges Federal Mortgage Bank to track loan defaulters

News Agency of Nigeria Nov 28, 2017 0

The Senate on Tuesday urged the Federal Mortage Bank to go after all loan defaulters in the country. The call was made by the upper chamber’s Ad Hoc Committee on Alleged Misuse, Under Remittance and Other Fraudulent Activities in…

Government

Over 100 manufacturers in Ogun benefitted from N10bn loan to real sector–Commissioner

News Agency of Nigeria Nov 24, 2017 0

Mr Bimbo Ashiru, the Ogun State Commissioner for Commerce and Industry, says more than 100 manufacturers have benefited from N10 billion loan provided to manufacturers by the state government in the last six years. He said the aim of the…

Government

Reps – The reason we approved Buhari’s $5.5bn loan request

News Agency of Nigeria Nov 16, 2017 0

The House of Representatives on Thursday said it approved the 5.5 billion dollars loan request from the executive because President Muhammadu Buhari is trustworthy and keeps to his words. It said that the approval was in spite of the…

Business

AfDB backs FG’s economic recovery plan, denies loan cut-off to Nigeria

News Agency of Nigeria Oct 31, 2017 0

The African Development Bank (AfDB) has commended the Federal Government’s Economic and Growth Recovery Plan (EGRP), while denying a report that the bank has called off loans to Nigeria. A statement on the bank’s website on Tuesday,…

Government

Senate kicks against Buhari N1.8trn foreign loan

Jide Oct 13, 2017 0

The Senate has kicked against the $5.5billion loan as requested by President Muhammadu Buhari insisting the money could be generated internally from the various revenue generating agencies if well monitored. Buhari, in his letter of…

Government

PDP criticizes FG’s $5.5bn loan bid

News Agency of Nigeria Oct 11, 2017 0

The Peoples Democratic Party (PDP) has expressed concern over the plan by the Federal government to obtain 5.5 billion dollars foreign loan. The party in a statement issued on Wednesday in Abuja by National Publicity Secretary of its…

Government

Buhari seeks fresh $5.5bn foreign loan, writes Senate for approval

Jide Oct 10, 2017 0

President Muhammadu Buhari has formally written to the Senate and the House of Representatives, to approve a loan request of $5.5 billion. The request was contained in a letter to both chambers of the National Assembly, which was read by…

Government

FG to shut down NERFUN

News Agency of Nigeria Oct 5, 2017 0

The Federal Government is making arrangements to shut down the operations of the National Economic Reconstruction Fund (NERFUND) at the end of October due to huge non-performing loans of about N17.5 billion. A competent source at the…

Government

We don’t depend on loan, Paris Club refund to pay salary – Enugu govt.

News Agency of Nigeria Sep 11, 2017 0

Enugu State Government says it has yet to expend its share of the second tranche of Paris Club refund as there is no pressing need for it now. The state’s Commissioner for Information, Mr Ogbuagu Anikwe, made this known in a statement in…

Agriculture

Bol fixes 5 to 8 % interest rate for $200m Local Content intervention fund

News Agency of Nigeria Aug 24, 2017 0

The Bank of Industry (BOI) says interest rate on the $200M Nigerian Local Content Intervention Fund will not exceed five to eight per cent. Its Managing Director, Mr Olukayo Pitan, said this on Thursday in Abuja at the Memorandum of…

Government

Gov.’s wife, CBN present cheques to beneficiaries of skills acquisition programme

News Agency of Nigeria Aug 17, 2017 0

Hope Afresh Foundation, an initiative of Mrs Anna Ishaku, wife of the Taraba Governor, has presented cheques for N250,000 to some beneficiaries of its skills acquisition training. Making the presentation in Jalingo, Mrs Ishaku called on…

Government

Why we approached World Bank for $350m loan—Ogun govt.

News Agency of Nigeria Aug 7, 2017 0

The Ogun government on Monday explained why it approached the World Bank to secure a $350 million loan. The state Commissioner for Budget and planning, Mrs Aderenle Adesina, and her counterparts in Ministries of Education, Agriculture and…

Business

Guinness says N40bn rights issue will optimise balance sheet for future growth

News Agency of Nigeria Jul 25, 2017 0

Guinness Nigeria Plc says its N40 billion rights issue being floated will optimise the company’s balance sheet for future growth. Mr Peter Ndegwa, the Guinness Managing Director, made this known at the company’s ‘facts behind the issue’…

Government

Reps constitute panel to probe N1.47bn loan disbursement by NDE

News Agency of Nigeria Jul 20, 2017 0

The House of Representatives, on Wednesday constituted a six-member panel to further investigate alleged disbursement of N1.47 billion loan to unspecified beneficiaries by the Nigeria Directorate of Employment (NDE). The sub-committee…

Agriculture

FADAMA decries Anambra farmers’ default in loan repayment.

News Agency of Nigeria Jul 13, 2017 0

The FADAMA Additionlal Financing (AF) programme has bemoaned the failure of farmers in Anambra to repay their loans. The state FADAMA Community Development Officer, Mr Chuka Ilokwe, decried the farmers’ defaults in loan repayment at a…

Business

CBN processes 10,003 complaints against banks, financial institutions in 7 years – Official

News Agency of Nigeria Jul 11, 2017 1

The Central Bank of Nigeria (CBN) on Monday said it successfully processed no fewer than 10,003 complaints against commercial banks and other financial institutions from 2010 to date. Mr Fada Banon of CBN’s Consumer Protection Department…

Business

Etisalat pulls out of Nigeria, gives 3-week ultimatum for a name change

News Agency of Nigeria Jul 10, 2017 0

Telecoms group Etisalat has terminated a management agreement with its Nigerian arm and given the business time to phase out the Etisalat brand in Nigeria, the chief executive of Etisalat International told Reuters on Monday. Nigerian…

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