CBN Guarantees N5.9bn Loan For 31,666 Farmers Under ACGSF   The Central Bank of Nigeria (CBN) has said 31,666 loans worth N5.92 billion were guaranteed under the Agricultural Credit Guarantee Scheme Fund (ACGSF) in 2021. Meanwhile, beneficiaries of the scheme called for an increase in the maximum...

10 Banks Loaned Customers N2.9trn In 12 Months   Between December 2020 and December 2021, the combined loan portfolio of 10 Deposit Money Banks in Nigeria rose by N2.9tn, data collated from their audited financial statements show. The banks are Stanbic IBTC, Fidelity Bank Plc, Sterling Bank,...

Retirees, Workers Kick As FG Plans N620bn Loan From Pension Funds   The Federal Government is planning to source $1.5bn (N620bn) loan from pension funds to support its proposed N7.73tn investment in transport infrastructure over the next five years. Specifically, the government is seeking to obtain the...

53 Local Oil Firms Get N124bn NCDMB Loans For Development   At least 53 local oil service firms have accessed the $300 million Nigerian Content Development Fund (NCDF) between 2018 and this year, the Nigerian Content Development Management Board (NCDMB), has said. The general manager of the...

Reps Okay Fresh $5.8bn Loan, $10m Grant For Fed Govt   The House of Representatives, on Tuesday, approved external borrowings totaling $5,803,364,553.50 and a grant of $10,000,000 for the Federal Government as part of the proposed 2018–2020 External Borrowing (Rolling) Plan No.3. The approval followed the adoption...

Nigeria Secures $210m AfDB Loan To Boost Agriculture   The African Development Bank’s Board of Directors announced on Tuesday the approval of a $210m loan for Nigeria’s Special Agro-Industrial Processing Zones, which it said would boost the agricultural sector. The AfDB said in a statement, “A $210m...