Tag: Loan
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Ebonyi, BOI float N2bn loans for civil servants
The Ebonyi State Government has urged civil servants in its payroll to key into the N2 billion loan scheme being operated by the government and Bank of Industry to improve their standard of living. Mr Pius Eze, Chairman of the 15-man committee inaugurated by the state government to work out the modalities for the loan…
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Buhari borrowing $3bn loan to refinance Jonathan’s debt – Adeosun
The Minister of Finance, Mrs. Kemi Adeosun, has said an appreciable percent of the recent loan request by President Muhammadu Buhari would be used to refinance loans taken by the immediate administration of former President Goodluck Jonathan. TheNewsGuru.com reports that President Muhammadu Buhari recently wrote the Senate asking for permission to secure the $5.5 billion…
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BREAKING: Buhari seeks approval for fresh $5.5b foreign loan
President Muhammadu Buhari is seeking the approval of the Senate for a $5.5 billion foreign loan to finance capital projects. The request was contained in a letter to the Senate. The letter, dated October 4, 2017, was read by the President of the Senate, Dr. Abubakar Bukola Saraki, at the resumption of plenary on Tuesday.…
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FG approves winding down of NERFUND over N17.5bn non-performing loan
The Federal Government has begun plans to shut down the National Economic Reconstruction Fund (NERFUND) over non-performance and non-performing loans of over N17.5 billion. A source at the Federal Ministry of Finance, told newsmen on Thursday in Abuja that a committee had already been formed to ensure smooth liquidation of the company by the end…
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Man attempts suicide in Ogun over N50,000 loan
Security operatives in Ogun have arrested a man who allegedly attempted to commit suicide over his inability to refund a N50,000 ‘loan. The man was arrested by the Anti-Vandal Team of Nigeria Security and Civil Defence Corps (NSCDC), Ogun Command, while he was trying to hang himself in a bush on Ayetoro Road, Abeokuta. The…
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We’ve commenced process of recovering 11bn loan – BoI tells Reps
The Bank of Industry (BoI) has said that the N11b owed it by 53 debtors will be fully recovered irrespective of litigation by some of the debtors. The Managing Director of the Bank, Olukayode Pitan said the recovery drive has already begun. The House of Representatives has however requested the Bank to furnish it with…
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FG approves N41bn Islamic Bank loan for Katsina
The Federal Government has approved a loan of $110 million for Katsina state from the Islamic Development Bank (IDB) to enhance health-care delivery in the state. The state’s Commissioner for Health, Hajiya Mariatu Bala-Usman at the Annual General Meeting of the Katsina State Chapter of the Nigerian Medical Association said the loan would be used…
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$1.2bn loan: Etisalat Nigeria dismisses investigation reports
Embattled telecoms company, Etisalat Nigeria has dismissed reports it is under investigation by the EFCC over utilisation of the 1.2 billion dollars loan obtained from a consortium of banks. A statement by Mr Ibrahim Dikko, the Vice President, Regulatory and Corporate Affairs, Etisalat Nigeria on the company’s website in Abuja on Thursday described the reports…
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$1.2bn loan: Banks refute takeover of Etisalat Nigeria
Consortium of 13 banks involved in Etisalat Nigeria loan on Thursday refuted reports that they have taken over the operations of the company. A management source close to the banks who pleaded anonymity told newsmen in Lagos that there was no truth in the report making the round. The source said that the banks major…
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JUST IN: Osinbajo writes Senate, seeks approval for $1.5bn loan
Acting President Yemi Osinbajo on Tuesday asked the Senate to approve $1.5bn loan, which is part of the 2016-2018 External Borrowing Plan of the Federal Government. The loan is meant for projects in 10 states. Osinbajo request to the upper chamber was made known by Senate President, Bukola Saraki, in a letter he read on…