Loans: China Can Seize Assets If Nigeria Defaults, Says Amaechi     The Minister of Transportation, Mr. Rotimi Amaechi, has said if Nigeria defaults on loans repayment, China has right to take over those assets and run them until it recovers its money. The minister spoke to journalists...

Lawmakers Probe CBN Over COVID-19 Loans     The House of Representatives has resolved to investigate the Central Bank of Nigeria over the difficulties Nigerians face in accessing its special intervention loans, especially that created for Small and Medium-Scale Enterprises to cushion the effect of COVID-19. A member...

DisCos Want CBN Loans, Acquisition Debts Restructured     More than six and a half years after the nation’s power distribution and generation companies were privatised, the core investors in the Discos are looking to restructure the loans advanced to them by banks for the acquisition of...

COVID-19: 17 Banks Seek CBN Approval To Restructure 32,000 Loans   In apparent reflection of the severe impact of the COVID-19 pandemic on the economy, 17 banks have written to the Central Bank of Nigeria (CBN) for permission to restructure 32,000 loans granted to individuals and...

COVID-19 Loans’ll Be Disbursed 48 Hours After Approval – CBN   The Central Bank of Nigeria has said all successful applicants that have submitted their account details for the COVID-19 Targeted Credit Facility should expect to be credited within 48 hours. The Director, Corporate Communications of CBN,...

Banks’ Loans To Customers Rise To N18.9trn In Q1, 2020     Nigerian banks’ loans to customers jumped to N18.9 trillion in Q1 2020, up from N17.4 trillion in FY 2019. Checks by our correspondent revealed a 5.74% increase during the first quarter of the year. In other words,...