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SMEs fault banks’ claims on financing


Operator in the Small and Medium Enterprises (SMEs) sector has faulted claims by some local banks to have hugely financed many businesses in the sector.

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•Charles Udoh, Commisioner for Information, Akwa Ibom State

Akwa Ibom govt is pursuing a private sector driven industrialisation agenda — Udoh

Commissioner of Information, Akwa Ibom State, Mr Charles Udoh, in this interview with Financial Vanguard disclosed the state government’s drive to industrialise the state and efforts to build infrastructure to attract foreign investors in different sectors of the economy. He disclosed that opportunity exists to build gas fired thermal power, other factories, among other viable projects in the state.

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First Royal Micro Finance Bank defies harsh times, pays dividends to shareholders

NOTWITHSTANDING  a drop in its profits after tax from N26,001,560 in the 2015 financial year, to N20,081,488 in 2016 owing to the adverse economic situation that characterised the 2016 financial year, First Royal Microfinance Bank has announced a dividend of five kobo per share for the financial year that ended December 31, 2016 to its share holders.

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