Fed Govt Says $750m Loan To Complement COVID-19 Stimuli         The Federal Government of Nigeria said the proposed $750 million loan for states under its Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) would complement other economic stimulus programmes. The Minister of State for Finance, Planning and...

CBN Extends AGSMEIS Loans To 14,638 Applicants       The Central Bank of Nigeria has said it is extending its Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) loans to 14,638 applicants in August. In a communiqué from the last MPC report, it stated, “The Agri-Business/Small and Medium Enterprise...

CBN Warns Against Fraudulent Investment Schemes, Loan Offers       The Central Bank of Nigeria has asked the public to beware of fraudulent loan offers and investment schemes. The acting Director, Corporate Communications, CBN, Osita Nwanisobi, said this in a statement on Thursday entitled ‘Beware of fraudulent loan...

In Six Months, CBN Disburses $13.99bn Forex       The Central Bank of Nigeria supplied $13.99bn into the market between January and June. The bank disclosed this in its quarterly statistical bulletin on ‘Supply of forex’ for the month of June. According to the CBN, the forex were supplied...

Lagos Atop As States’ IGR Drops By 11.7%       The Internally Generated Revenue of the states dropped to N612.87bn in the first six months of 2020 from N693.91bn in the corresponding period of 2019. The National Bureau of Statistics disclosed on Tuesday in its report published on...

Fed Govt To Restructure SME Loans, Says Osinbajo     The Vice President, Yemi Osinbajo, has said the Federal Government is working with the Central Bank of Nigeria to help borrowers to restructure their loans as part of efforts to ease the impact of COVID-19 pandemic. Osinbajo said...