FG Requests $5bn Chinese Loan For Mambilla Power Project
Nigeria has formally requested for loan from China Exim Bank to build the 3,050 megawatts (MW) Mambilla hydropower generation plant, whose construction was billed to gulp $5.8 billion.
It was gathered from the officials of the Ministry...
9mobile Obtains $230m Loan To Reposition Operations
The management of Emerging Markets Telecommunication Services Limited, trading as 9mobile, has secured $230m loan facility from Africa Finance Corporation to help it attain its long-term growth plans.
The telecommunication company made this known in a statement on Sunday,...
Banks’ Software Investment Grows By 55% To N120bn
Although investments in software by Nigerian banks have grown over the years, Nigerian software developers have made minimal input in the financial industry.
The investment of 10 Nigerian Deposit Money Banks in software, which has accrued over the...
NNPC Under-remitted N78bn To Federation Account, NEITI Says
The Nigeria Extractive Industries Transparency Initiative on Thursday announced that the Nigerian National Petroleum Corporation under-remitted N77.92bn to the Federation Account from domestic crude allocation in 2017.
It disclosed this in its latest report on Nigeria’s share in...
About 3,891 Debtors Owe Banks Above N1bn Each
About 3,891 firms and other debtors have taken individual loans above N1bn, totalling N13.19tn of loans in the banking sector.
Latest figure by the National Bureau of Statistics revealed that the total loans in the banking sector stood...
LNG Sponsored-projects In Nigeria, Others To Attract $103bn
Liquefied Natural Gas projects in Nigeria, Egypt, Mozambique and elsewhere on the African continent are expected to attract nearly $103bn investments this year.
According to a statement ahead of the 5th Gas Summit of the Gas Exporting Countries’...
