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,...

Interest Rates On SME loans’ll Hit 9% — CBN   Interest rates on loans to the Small and Medium Enterprises to cushion the effects of the coronavirus on their operations introduced by the Central Bank of Nigeria will rise to nine per cent from five per...

COVID-19: CBN Okays N10bn For Healthcare Loans     The Central Bank of Nigeria (CBN) has approved N10 billion aggregate loan request by pharmaceuticals and other health care organizations from its earlier announced N100 billion facility to enable the entities produce items to fight the COVID-19 pandemic...

N50bn CBN Loans To SMEs, Others End 2024     The Central Bank of Nigeria has set December 31, 2024 exit date for its intervention loans to the Small and Medium Enterprises and households aimed at cushioning the effects of coronavirus on businesses and the people. It also...