Banks Recovered N50.32m Bad Loans Within Nine Days – CBN     Director, Financial Policy and Regulation at the Central Bank of Nigeria, Mr. Kevin Amugo, says Nigerian banks recovered about N50.32m bad loans from debtors within nine days after the country commenced operations of the Global...

FG To Spend N688bn On Scanners At Ports, Entry Points     The Federal Government is set to spend over N688.56 billion ($1.812 billion) for the acquisition of over 300 scanners for the nation’s ports and entry points for digital examination of cargoes and other items imported...

Access Bank Signs $93m Syndicated Loan Agreement     Access Bank Plc said it has signed a subordinated syndicated loan agreement totalling $93.8m with the Dutch development bank (FMO), the French private sector development bank (Proparco), and leading investment firm, Symbiotics. It said this in a statement on...

Reforms Delay $1.5bn World Bank Loan To Nigeria     The World Bank is unlikely to approve the much-needed $1.5 billion for Nigeria this month as planned due to concerns over desired reforms, it was gathered yesterday. A delay in financing from multilateral lenders could leave the economy...

CBN To Set Up $39.4bn Infrastructure Development Company With NSIA, AFC     The Central Bank of Nigeria (CBN) has secured the Federal Government’s approval to set up a $39.4 billion (N15 trillion) infrastructure development company in collaboration with the Sovereign Wealth Fund, to invest in the...

Reps Probe NNPC’s $100m Insurance Policy On Non-existing Assets     An investigative hearing into the $100 million premium allegedly paid by Nigerian National Petroleum Corporation (NNPC) and Joint Ventures (JVs) for non-existing assets overseas as well as the implementation of insurance policies of other Ministries, Departments...