Inventories Hit N402bn Amid Weakened Purchasing Power, Forex Concerns         Despite struggling to access foreign exchange to secure raw materials, local manufacturers have decried the rising level of inventory, especially for unsold manufactured goods, adding that weakened disposable income of consumers has worsened the situation. Similarly, irregular...

InfraCredit Completes Drawdown Of AfDB’s $10m Loan Agreement     InfraCredit, an ‘AAA’ rated specialised infrastructure credit guarantee institution, says it has completed the drawdown of $10m subordinated unsecured 10-year facility under the subordinated loan agreement with the African Development Bank, an international financial institution and multilateral...

CBN Unveils N200bn Loan For FG’s Social Housing Project       The Central Bank of Nigeria has said it will release a cumulative maximum limit of N200bn to provide construction finance facility to enable Family Homes Funds Limited to implement the Federal Government’s Social Housing programme as...

COVID-19: CBN Disburses N369bn To SMEs, Others       The Central Bank of Nigeria on Tuesday outlined the disbursements it had so far made in various sectors of the economy to cushion the adverse impact of the COVID-19 pandemic. According to the bank, about N369bn has been disbursed...

FG’s N250bn Gas Intervention Fund Targets CNG, LPG As Alternative Fuels       The Federal Government has stated that its N250 billion intervention facility for the national gas expansion programme is targeted at making Compressed Natural Gas (CNG) the fuel of choice for transportation and Liquefied Petroleum...

N4bn Debt: AMCON Takes Over Investment Firm’s Assets       The Asset Management Corporation of Nigeria has taken over assets belonging to the chief promoters of Geedee Zulu Investment Limited, Frank Ezuma and Lilian Ezuma, over indebtedness of over N4bn. The Head of Corporate Communications Department, AMCON, Jude...