Tag: Loan
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World Bank, AfDB, others no longer willing to approve loan requests from Nigeria – FG
…Says only China responsive Multilateral lending institutions including the World Bank and the African Development Bank (AfDB) are no longer willing to grant credit facilities to Nigeria, the Federal Government said on Tuesday. It said that informed its decision to approach China for the bulk of the external loans. Minister of Finance Budget and Planning…
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Banks took N950b loan from CBN in three months
Commercial and merchant banks took cumulative loans worth N949.91 billion from the Central Bank of Nigeria (CBN) within three months, the apex bank’s quarterly economic report has shown. The report released at the weekend showed that the loans came through CBN’s Standing Facilities meant for the lenders to square up their liquidity positions and meet…
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Chelsea defender completes loan move to Swansea
Chelsea defender Marc Guehi has joined Swansea on loan until the end of the 2019-20 campaign. The 19-year-old has already taken in a training session with his new team-mates, and will be available for selection when the Swans face local rivals Cardiff City on Sunday. Guehi was only able to appear in two Carabao Cup…
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Governors’ Forum distances members from Buhari’s fresh $30bn loan request
Governors of the 36 states have distanced themselves from the plan by the Federal Government to borrow $30billion in the next fiscal year. Speaking on the platform of the Nigeria Governors’ Forum (NGF) the state Chief Executives said the $30b borrowing plan submitted to the National Assembly by the FG has nothing to do with…
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Senate begins consideration of Buhari’s loan request
The Senate on Tuesday referred President Muhammadu Buhari’s 2016 – 2018 External Borrowing Plan request to its Committee on Local and Foreign Debts. The President’s request was forwarded to the Committee for further legislative work following its presentation by the Senate Leader, Yahaya Abdullahi, during plenary. The Committee has Senator Clifford Ordia (PDP, Edo Central)…
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Buhari not responsible for Nigeria’s growing debt profile – DMO
…Says President seeking approval for $22.7bn loan not approved by Saraki’s eight assembly …clears air on nation’s external debt The Debt Management Office (DMO) says the public debt stock of the country is a cumulative figure of borrowings by successive governments over many years. The DMO said this in a statement released in Abuja on…
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Zainab, Fashola, Saraki defend Buhari’s 22.7bn loan request
The Federal Government on Tuesday deployed three ministers to the House of Representatives to defend President Buhari’s request from National Assembly for approval of 22.7 billion dollars fresh borrowings for his government. At the green chamber to defend the loan captured under the Federal Government’s External Borrowing Plan (2016 to 2018) were Minister of Works…
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Why Nigeria is borrowing fresh $3bn from World Bank – Ahmed
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has said the $3bn loan being sought by the Federal Government from the World Bank would be deployed for reforms in the power sector. She said this during an interview with journalists on the sidelines of the World Bank/International Monetary Fund meetings holding in…
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APC, Makinde trade words over N7.6b loan
The All Progressives Congress (APC) in Oyo State has berated Governor Oluseyi Makinde and the Speaker of the state assembly Hon. Adebo Ogundoyin over express approval of a fresh N7.6 billion loan aimed at reviving two farm settlements in Ido/Ibarapa East Federal Constituency of the state. The state House of Assembly had on Thursday, approved…
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Access Bank partners Lagos State Government to launch N10billion loan portfolio for women
Africa’s largest retail bank, Access Bank Plc., yesterday collaborated with the Lagos State Employment Trust Fund (LSETF) to launch the LSETF W Initiative aimed at economically empowering women in Lagos State. The initiative, which has a total loan portfolio of N10billion, is targeted at women-owned businesses (with at least 50% ownership share) in operation for…