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We lend to sectors that keep the country functioning

Abubakar Suleiman, ED, CFO, Sterling Bank

To the best of my knowledge that is not correct. Yes, banks would make money when the yield on CBN instruments goes up and bank customers also move funds to invest in the instruments, creating liquidity tightening. If you check the website of FMDQ you will see that the volume of trade in the fix income market has flattened and now the volatility has flattened.

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Rice Mill CBN loan

CBN approves N15.7b for additional rice mills

In a bid to reduce foreign exchange spending on food importation through enhanced funding for agriculture, the Central Bank of Nigeria (CBN) has approved funding for additional rice mills in the country. Meanwhile the Minister of Agriculture, Chief Audu Ogbeh has said that the federal government may soon stop importation of rice into the country given the increased rice production across the country facilitated by the CBN backed Anchor Borrowers’ Programme (ABP).

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Lekki Gardens repositions, assures subscribers of safe investment

The management of Lekki Gardens Estate Limited, one of Nigeria’s foremost real estate firms, has assured its teeming clients and stakeholders that their investment is safe and appreciating in value in spite of the current economic downturn, just as the firm has disclosed that it has repositioned to ensure timely delivery of quality and affordable housing in the country.

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