Loan
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Featured
Fuel hike: NANS calls for review of students loan
Amidst the hike in the price of fuel, the National Association of Nigerian Students (NANS) has called for an increase in student loan from N20,000 to N40,000. The NANS Senate President, Babatunde Akinteye, disclosed this during a news conference on the state of the nation in Abuja on Monday. Akinteye said that this adjustment was necessary to help students cope…
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Featured
Student loan key to fighting poverty – Tinubu
President Bola Tinubu on Wednesday inaugurated the student loan, saying it is key to fighting poverty. He said the student loan scheme aligned with his administration’s commitment to inclusiveness and assured sufficient funding to sustain the programme. “Democracy is all about inclusiveness. Our target is to build a society on successful inclusiveness,” he said. He added that education was the…
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Featured
State-owned institutions’ students NELFUND loan application starts July 7
The Nigerian Education Loan Fund (NELFUND) has announced that students of 36 state-owned tertiary institutions who have enrolled in its Student Verification System (SVS) can apply for loans effective from July 7. This is disclosed in a notice obtained from NELFUND’s X handle on Sunday. The Fund urged all other state-owned tertiary institutions to submit their complete student data to…
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Featured
Reps probe CBN’s N1.12trn anchor borrowers scheme, NIRSAL’s N215b loan
The House of Representatives has ordered probes into the N1.12 trillion anchor borrowers scheme, an initiative of the Federal Government’s interventions and agricultural funding through the Central Bank of Nigeria (CBN). Also included in the probe is the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), the Bank of Industry (BoI) and other agencies. The resolution followed the adoption…
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Featured
FMBN inaugurates task teams for loan recovery nationwide
The Federal Mortgage Bank of Nigeria (FMBN) on Monday inaugurated seven specialised task teams to recover all the bank’s Non-Performing Loans (NPLs) nationwide. While inaugurating the teams in Abuja, Chief Executive Officer/Managing Director of the bank, Shehu Osidi, said the move was to reduce non-performing loans. Osidi said the move became expedient to safeguard the bank’s financial interests and sustain…
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economy
N100bn, not loan but rediscounting facility, Delta is solvent —Commissioner
Delta Government on Monday, reiterated that the N100 billion it sought approval from the State House of Assembly was not a loan but a discounting facility from a commercial bank. The State Commissioner for Finance, Chief Fidelis Tilije, stated this at a news conference in Asaba, while reacting to claims that the Gov. Ifeanyi Okowa’s led administration had taken a…
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Featured
Reps approve Buhari’s N819.54bn domestic loan request for capital projects
The House of Representatives has approved President Muhammadu Buhari’s request of N819.54bn domestic loan meant to fix the infrastructure destroyed by floods across the country. The approval followed the adoption of a report presented by the Chairman House Committee on Appropriation, Rep. Muktar Betara, at the plenary on Wednesday. According to the News Agency of Nigeria(NAN),Buhari had last week sought…
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Finance
N333m debt: Court freezes all Benue State Government Bank Accounts
A Federal High Court, Abuja has made an interim order, freezing all bank accounts of Benue State Government maintained in some banks in the country following its inability to pay back N333 million loan borrowed in 2008. Justice Inyang Ekwo, who gave the order following an ex-parte motion brought by the Asset Management Corporation of Nigeria (AMCON), also directed that…
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Politics
Opposition kicks as Reps approve N2.3tn fresh loan for Buhari
Members of the minority caucus in the House of Representatives, on Thursday, declined to participate in the consideration and adoption of the report by the Committee on Aids, Loans and Debt Management chaired by Ahmed Safana. The report was on the external borrowing plan of the Federal Government to fund the 2021 budget, for which the President, Major General Muhamadu…
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Sports
Super Eagles defender Ebuehi joins Serie A club Venezia on loan
Tyronne Ebuehi has linked up with Serie A newcomers Venezia on a one-year loan deal from Benfica. Venezia have the option to buy Ebuehi if they remain in Serie A for the 2022-23 campaign. Venezia earned promotion from Serie B via the play-offs, stepping up along with Empoli and Salernitana. He is the third major signing of Venezia’s summer after…
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News
Nigerian govt seeks fresh N5.9tn loan from British bank
The Nigerian government is currently negotiating a fresh $14.4 billion loan which is about N5.9 trillion to finance two rail lines in the country. Minister of Transportation, Rotimi Amaechi disclosed this in an interview with Bloomberg. According to the minister, Standard Chartered Plc, a British multinational bank will be funding the project despite previously announcing the state-owned Export-Import Bank of…
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NEWS
NNPC seeks $2.5bn loan to fund acquisition in Dangote refinery
The National Petroleum Corporation (NNPC) has reportedly approached the African Export-Import Bank (Afreximbank) for financial support to acquire a stake in Dangote Refinery. NNPC is soliciting for $2.5 billion to finance its stake acquisition in Africa’s largest refinery and the world’s largest single-track refinery which is scheduled to commence operation next year. The corporation had revealed that it was interested…
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Finance
Interjet gets $150milion to cushion hit
Mexico’s Interjet said on Monday it received a $150 million capital injection to help the company through a major restructuring in a bid to offset the crisis in the airline sector as the coronavirus pandemic choked global travel. Interjet, one of Mexico’s three biggest airlines with a portfolio of more than 50 routes, announced restructure plans last month as local…
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Middle East
Egypt: African Development Bank approves loan
The Board of the African Development Bank on Wednesday approved a $22 million Senior Loan to help Egypt’s Corporate Leasing Company (Corplease) expand its operations in the North African country. The decision signalled confidence in a burgeoning local market and in the Egyptian economy as a whole. The Bank will mobilize $7 million of the $22 million from the Africa…
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Nigeria
Nigeria seeks $890m
Nigeria is applying for 890 million dollars grant from the Global Fund to reduce the burden of HIV, Tuberculosis and Malaria from 2021 to 2023. Mr Dozie Ezechukwu, the Executive Secretary, Country Coordinating Mechanism (CCM) Global Fund Nigeria, disclosed on Monday in Abuja. CCM Nigeria, the custodian of Global Fund (GF) grant, is a body of representatives of government, bilateral…
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News
Expert urges FG to sensitise Nigerians on foreign loan
Dr Uju Ogubunka, an economic expert, has urged the Federal Government to educate Nigerians on the importance of the proposed $29.96 billion foreign loan towards boosting the economy. Ogubunka, a former Executive Secretary, Chartered Institute of Bankers of Nigeria (CIBN) spoke in an interview with the (NAN) on Sunday, in Lagos. He suggested that government should sensitise Nigerians through various…
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