FINANCING

by Abisoye Shola..…. The International Monetary Fund (IMF) is billed to approve the $3.4 billion loan for Nigeria today and the disbursement of the fund likely to be immediately before the end of the month. The loan is expected to assist Nigeria in Fighting the coronavirus pandemic. According to IMF, Managing Director, Kristalina Georgieva, the Fund is to provide Nigeria ...

Heritage Bank Plc has emphases that the safety and wellfare of it’s customers and employees are its top most priority and the most pressing business need at this time because of the ravaging Covid-19 pandemic on human beings and businesses worldwide. In view of this development, the Managing Director (MD/CEO) of Heritage Bank, Ifie Sekibo in his message to customers, ...

Development and Monitoring Board (NCDMB) says it has reduced the interest rate for beneficiaries of loans under the Nigerian Content Intervention (NCI) Fund from eight to six percent per annum. The board says it has also extended the loans moratorium and tenure effective from April 1. Mr Simbi Wabote, Executive Secretary, NCDMB, said on Saturday in Lagos that the move ...

China and G-20 countries have agreed to give debt relief to the poorest countries in the world which are classified as IDA countries by the World Bank. This is according to comments made by David Malpass, the World Bank president, on Friday at the ongoing virtual April 2020 virtual Spring meetings of the World Bank and International Monetary Fund. “I ...

The headquarters of the Corporate Affairs Commission (CAC) in Abuja has gone up in flame. This is barely a week after the Accountant General of the Federation went up on smoke. The building is located in the highbrow Maitama District of the territory, an area which plays host to several government buildings and other private concerns. Although the cause of ...

The African Development Bank Group (AfDB) last week announced a $10 Billion package as a response facility to help member countries to cut down the ravaging COVID-19 pandemic. The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution’s primary channel for its efforts to address the crisis. It provides up ...

… As Corporation Commits to Sustainable Funding of Project…….. The Nigerian National Petroleum Corporation (NNPC) and its Joint Venture Partners of Shell Petroleum Development Company (SPDC), Total Exploration and Production of Nigeria (TEPNG) and Nigerian Agip Oil Company (NAOC), have disbursed $360million towards the Ogoniland Clean-Up project as recommended by the United Nations Environment Programme (UNEP). Group Managing Director of ...

ABUBAKAR Baushe, Speaker, Abuja Municipal Area Council (AMAC), Legislative chambers, has called on residents of the council to be patient with the present administration. Baushe, who briefed newsmen on Tuesday in Abuja, noted that much would naturally be expected from AMAC being the largest area council in the FCT. “I am calling on the people and residents of this area ...

Union Bank of Nigeria Plc has entered a share sale and purchase agreement to divest its 100 percent equity stake in Union Bank UK Plc (UBUK) The Bank explained that the development is aligned with Union Bank’s strategy to geographically streamline its business operations to focus on growth opportunities in Nigeria. “Following a competitive bid process, MBU BidCo Limited (MBU), ...

Total E&P Nigeria Staff Multipurpose Co-operative Society Limited has secured 20,000Sq.m of land at the prestigious Eko Atlantic City. Located in the Victoria Island axis of Lagos State, Eko Atlantic City is being constructed on land reclaimed from the Atlantic Ocean. Upon completion, the new peninsula is anticipating at least 250,000 residents and a daily flow of 150,000 commuters. Already, ...