Anambra: 100 youths to benefit from state govt. soft loan
No fewer than 100 youths are to benefit from the Anambra State Government’s soft loans for talent-hunt in the fields of Agriculture, Science and Technology. Dr Onyeka Ibezim, the Special Adviser to Gov. Willie Obiano on Youth Mobilisation and Empowerment, said this on Monday.
FG recapitalisation of FMBN to drive housing mortgages
Following its declaration of financial surplus amounting to N472 million in third quarter (Q3) 2016, the Federal Mortgage Bank of Nigeria (FMBN) is now better placed to receive additional capital from the Federal Government in its bid to revamp the housing sector through affordable mortgages.
The Federal Government would recapitalise the financial base of the Federal Mortgage Bank of Nigeria (FMBN) to be able to drive its planned national housing programme, the Minister of Power, Works and Housing, Mr. Babatunde Fashola has disclosed. Read more…
Nigerian govt. to reimburse states with
N522.7 billion over-deduction on foreign loans
The federal government on Friday unfolded modalities for the reimbursement to the 36 states of about N522.74 billion over-deduction on foreign loans.
The amount is to be paid in batches, with the first batch of N153.01 billion currently being processed for release to 14 state governments.
The debt service deductions were in respect of the Paris Club, London Club and multilateral loans of the federal and state governments between 1995 and 2002.
Following a final agreement reached by Nigeria under the Obasanjo administration with the Paris Club in October 2005 for debt relief, some state governments had already been overcharged. Read more…
CBN plans financial services in villages by 2020
The Central Bank of Nigeria (CBN), Mr. Godwin Emeifele yesterday announced plans to render financial services to villages across the country by the end of 2020.
Emefiele who made the disclosure at a two-day CBN fair tagged, “Promoting Financial Stability and Economic Development,” said the CBN now has a Central Complaints Center where customers can present their challenges which would be resolved immediately. Read more…
AfDB, UBA sign $150m loan for infrastructure, SMEs
The African Development Bank Group and United Bank for Africa Plc have signed a $150m loan agreement to finance infrastructure and the Small and Medium-scale Enterprise’ projects, including women-owned enterprises in Nigeria.
The Group Managing Director/Chief Executive Officer, UBA, Mr. Kennedy Uzoka, was quoted in a statement as saying, “The funds will support development of productive sectors of the economy, particularly the power sector, infrastructure, women-owned enterprises as well as the SMEs.