Tinubu writes Senate, seeks approval to borrow $5 billion
In another letter to the Senate, President Tinubu is seeking approval to borrow $1 billion UK/EF loan facility from London Citi Bank for the rehabilitation of port projects, including Lagos Port complex and Tin Can port.
Banks’ nonperforming loans fall by 41% in 2019
Nonperforming loans (NPL) in the banking sector fell by 41 percent, year-on-year (YoY) to N1.05 trillion in 2019 from N1.79 trillion in 2018.
Police, banks helpless, as online loan fraud emerges
The emergence of online loans accessed through digital platforms of banks and financial technology companies, Fintechs, may have provided new opportunities for bank customers.
Bayelsa not taking new loans — govt
YENAGOA—OUTGOING Government of Bayelsa State, yesterday said it was not taking a fresh loan, even as it said the current budget would run till the end of its regime.
Buhari’s foreign loans: Matters arising
PRESIDENT Muhammadu Buhari sought for legislative approval for external loans during the eighth Senate but was turned down. Amongst them was US$29.96billion loan which, according to the object, was to fund critical infrastructure in the country. The Senate bawled that loans cannot be an option at all.
Border closure: Rice dealers want loan, count gains
Some rice farmers have appealed to the Federal Government to provide them with affordable loan facilities to boost production to reduce the price of the commodity as they described the border closure as a welcome development. The News Agency of Nigeria (NAN) reports that the price of a 50kg bag of local rice, which sold […]
FBN Holdings reduces bad loans to 12.6% in 9 months
FBN Holdings Plc on Monday said the non-performing loans (NPLs) ratio for its commercial bank reduced to 12. 6 per cent for the nine months ended Sept. 30, 2019. This is contained in the company’s unaudited result for nine months as of Sept. 30, released by the Nigerian Stock Exchange (NSE). The result showed an […]
President Buhari charges groups to access loans
President Muhammadu Buhari on Tuesday in Abuja has called on various groups to access government interventions, loans and schemes to promote agriculture with the view of ending poverty.
Loans account for 80% of LAPO’s balance sheet — Ehigiamusoe
LAPO Microfinance Bank said that 80 percent of its total assets are loans granted to customers to grow their businesses.
Niger AFAN establishes Village Savings and Loan Association
Farmers association in Niger has established a Village Savings and Loan Association (VSLA) among members at various wards in the state.
MfBs’ bad loans drop by 5.3% to N25bn — NDIC
THE microfinance bank industry recorded 5.2 percent decline in nonperforming loans (bad loans) to N25 billion in 2018 from N26.18 billion in 2017.
Banks lose N1.1trn to IFRS 9 rule on bad loans
THE banking industry lost N1.1 trillion in total assets as a result of compliance with the requirements of the International Financial Reporting Standard (IFRS) 9 on recognition of bad loans.
Access Bank offers collateral-free loans, business support to SMEs
The Emerging Business Team of Access Bank led by Mrs. Ayo Olojede discusses how small and medium enterprises can get financial and other supports from Access Bank, especially business loan without collateral. Excerpt:
How Zedvance provides loans to non-salary earners
As a way of deepening the digital drive, consumer finance firm, Zedvance, says it has launched a dedicated mobile lending app tagged MoneyPal.
CBN to Nigerians: We’re ready to provide loans for those who want to go into cattle rearing business
The Cemtral Bank of Nigeria (CBN) has announced a new policy to end of milk into the country just as it assured that the bank was ready to provide loans for those who want to go into cattle business.
Advans MfB disburses N30 billion as loans in 7yrs
Advans La Fayette Microfinance Bank, MfB, said it has disbursed N30 billion as loans since its inception seven years ago.
