Adeosun, Emefiele back BoI scrapping, bank kicks
The Bank of Industry has kicked against the current move by the Senate to scrap it and establish the National Development Bank in its place.
The Acting Managing Director, BoI, Mr. Waheed Olagunju, made this known on Monday at a public hearing organised by the Senate Committee on Banking, Insurance and other Financial Institutions on the establishment of the NDB.
The Minister of Finance, Mrs. Kemi Adeosun; and the Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, however, backed the Senate on the move.
A bill seeking to establish the NDB had passed second reading in the Senate on October 12.
BOI to invest N1.7bn in modern arts
The Bank of Industry (BOI) has earmark N1.7 billion for the development of modern arts and crafts in Niger State, says Mr Emmanuel Zhiri, the Acting Executive Director, Council for Arts and Culture.
Zhiri told newsmen in Minna on Tuesday that the gesture was aimed at boosting tourism in the state. He said that the development of the arts and crafts sector would be a collaborative effort among the BOI, state government and other private partners. He also pointed out that it was the efforts of the Council in the development of arts and crafts in Niger State that had spurred this collaboration.
Government to set up technology bank
The Federal Government will soon set up a technology development bank, the Minister of Science and Technology, Dr. Ogbonnaya Onu, has said.
Onu said this while briefing journalists in Abuja on the outcome of his trip to Portugal and Argentina where he signed Memoranda of Understanding with the two countries for collaboration in science and technology development on behalf of the country.
The minister said the technology bank would help to fund science, innovation and technology-based start-ups in Nigeria.
According to him, the bank will be funded from the proposed National Research and Innovation Fund to assist Nigerians and inventors to bring their innovations to the market.
AfDB to invest $24bn in agriculture — Adesina
The African Development Bank, AfDB, is to invest $24 billion in agriculture and agribusiness on the continent in the next 10 years.
This came on a day the Minister of Agriculture, Chief Audu Ogbeh, assured that there would be no famine in the country next year.
AfDB President and Nigeria’s immediate past Minister of Agriculture, Dr. Akinwunmi Adesina, disclosed this, yesterday, at the on-going Africa Economic Conference in Abuja. He said African governments, Development Finance Institutions and Multilateral Institutions should open windows of risk sharing in agricultural lending to make the sector more attractive for commercial banks to provide the much-needed lending, saying the current three per cent total credit to the sector was unacceptable.
Ecobank reiterates support for businesses, finances Abia mall
Ecobank Nigeria has restated its commitment to sustain support for projects that impact positively on the lives of the people and economic development of the country.
The Managing Director, Ecobank Nigeria, Charles Kie, who gave the assurance during the commissioning of Abia Retail Shopping Mall (Shoprite) in Umuahia, Abia State, said such support is part of the bank’s policy.
Represented by the Team Lead, Medium and Local Corporates, Commercial Banking, South East, Jovita Okeahialam, he affirmed that the bank has a deliberate policy to finance projects that stimulates development, stressing that it was the motive behind the decision to be one of the financiers of the Abia mall.