Tag: Loan
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Kuwait approves $2bn loans for African countries
The Ambassador of the State of Kuwait to Nigeria, Abdulaziz Albisher, has said that the Emir of Kuwait has approved $2 billion as grants and concessionary loans to African countries. He said the loans, reserved for investment and development, will be spread over five years. Besides, the envoy said that Kuwait has initiated another Annual…
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Loan saga: Court enters $16.4m judgment against Stella Oduah
A Federal High Court sitting in Lagos south west Nigeria has entered judgement in favour of Sterling Bank Plc jointly and severally against the former aviation minister Senator Stella Oduah and her company Sea Petroleum and Gas Limited in the sum of $16,412,819.06 and N100,493,225.59 respectively. The sum being the outstanding debt owed by the…
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36 states, FCT to access World Bank’s $750m loan, grant soon – FG
The Federal Government has disclosed that 36 state governments and the Federal Capital Territory, FCT, will soon access World Bank’s $750 million loan and grant facility. This was made known by the Minister of Finance, Zainab Shamsuna Ahmed, while addressing the 7th Community of Practice (CoP) made up of State Commissioners of Planning and Budgeting,…
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Senate bows to Melaye, Aidoko’s request, probes Kogi govt’s $500m foreign loan
The Senate on Wednesday asked its Committee on Local and Foreign Loans to investigate alleged plan by the Kogi State government to take a $500 million foreign loan. The loan plan, it was learnt, is without recourse to the National Assembly, which is empowered by law to approve such loan. Two Kogi State senators –…
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Bayelsa obtains $1mn World Bank/EU loan
The Bayelsa State Government on Wednesday commenced the deployment of one million dollars bilateral loan it obtained from the World Bank and European Union (EU). Projects selected for implementation from the loan are scheduled to be completed in two years. Figures from Debt Management Office put Bayelsa’s external debt as at June 20018 at 47.756…
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Fayemi signs Executive Order to stop education taxes, approves N200m loan for teachers
The Ekiti State Governor, Dr. Kayode Fayemi, has signed an Executive Order banning various fees collected by some principals, headteachers and other school officials. He also approved N200m as car and housing loans for teachers in public schools in the state to boost their morale. The governor disclosed that the loans would be…
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Chelsea striker Michy Batshuayi joins Valencia on a season-long loan
Chelsea striker Michy Batshuayi has joined Spanish club Valencia on a season-long loan. The 24-year-old Belgium international spent part of last season on loan at German club Borussia Dortmund, scoring nine times in 14 appearances. Batshuayi joined Chelsea in July 2016 for a fee in the region of £33m and has scored 19 times in…
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Promasidor secures N5.6b BoI loan for expansion
Promasidor Nigeria Limited (PNL), has secured a N5.6 billion credit from the Bank of Industry (BoI) to support its aggressive expansion programmes. PNL Finance Director, Mr Per Kristensen, said the facility would be used for additional machinery, factory expansion and value chain development, which would create jobs for Nigerians and increase the company’s capacity to…
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UK grants first loan to Zimbabwe in 24 years
The United Kingdom will provide the first commercial loan to the Zimbabwean private sector since 1994, local media reported on Wednesday. The Financial Times reported that the CDC Group development institution, owned by the UK Government and the Standard Chartered Bank, would lend $100m to Zimbabwean companies. iHarare reported that Governor of Reserve Bank of…
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DPP lauds Senate for rejecting El-Rufai’s $350m World Bank loan
The Democratic People’s Party (DPP) on Wednesday praised the Senate for rejecting the 350 million dollars loan application by the Kaduna State Government. The National Chairman of the party, Mr Garshon Benson newsmen in Abuja that the rejection of the loan application was in the interest of people and future of the state. “My party’s…