World Bank Loan Application Nigeria Receives 1.5billion Loan The Loan is Meant to Support Fuel Subsidy Removal and Tax System The World Bank has given Nigeria a $1.5 billion loan to support the government’s efforts in removing fuel subsidies and reforming the tax system. This loan is part of the “Reforms for Economic Stabilisation to … Read more
Egypt’s $9.3 Billion IMF Loan Tops List of African Nations Struggling with Financial Stability” “Reliance on IMF Loans Raises Concerns Over Africa’s Economic Future” “Kenya, Angola, and Côte d’Ivoire Trail Egypt in Massive IMF Debt Obligations: A Growing Trend Across Africa” African nations grappling with economic instability have increasingly turned to the International Monetary Fund … Read more
Wale Edun Dad’s Delegation to Saudi-Arabia Saudi EXIM Bank Keen on Collaborating with Nigerian Institutions for Future Transactions Nigeria Request $5 Billion Trade Loan In a move aimed at fostering stronger economic relations, Nigeria and Saudi Arabia are taking steps to enhance export credit, insurance frameworks, and market access between the two nations. Eko Hot … Read more
The Federal Government of Nigeria has submitted a request for a $500 million loan from the World Bank, aimed at enhancing dam safety and addressing other critical water management issues. Eko Hot Blog reports that this substantial financial assistance is intended to bolster infrastructure, ensuring the safety and efficiency of the country’s water resources. The … Read more
Eko Hot Blog reports that the first tranche of a N10,000,000 loan and grant has been disbursed to small business owners in Ibeju Lekki Local Government (LG). This event, which was local council in collaboration with the Lagos State Employment Trust Fund (LSETF), held on Friday, July 18, 2024. The event, held at the Ibeju … Read more
The Nigerian National Petroleum Company (NNPC) Limited has responded to a report on its plans to secure a fresh $2 billion oil-backed prepayment loan amid fuel scarcity in the country. Eko Hot Blog reports that The company’s Chief Corporate Communications Officer, Olufemi Soneye, neither confirmed nor denied the report, stating that “when we are ready … Read more
Brazilian woman arrested for attempting to secure a loan using her deceased uncle’s identity Erika de Souza Vieira Nunes captured on video at a Rio de Janeiro bank with her uncle’s corpse Disturbing footage shows Erika trying to make her dead uncle sign paperwork and conversing with him EKO HOT BLOG reports that a … Read more
There was a recent public spat between the camps of Kaduna governor and the immediate past governor of the state. The spat, which occurred during the weekend, centered on a foreign loan taken by former Governor El-Rufai. Shehu Sani, who opposed the loan in 2018, has now reacted to the controversy. Eko Hot Blog reports … Read more
Minister Nyesom Wike seeks House approval for N500 billion loan for FCT’s 2024 budget. Lawmaker expresses concerns over proposed borrowing, suggests exploring capital market options. Wike urges newly sworn-in FCT officials to pledge loyalty to President Tinubu’s agenda. EKO HOT BLOG reports that Minister Nyesom Wike calls for N500 billion loan approval from House for FCT’s … Read more
EKO HOT BLOG reports that the Federal Government has said a total of N160 billion was budgeted for the Consumer Credit Scheme and implementation of the Student Loan Scheme in the 2024 budget. The Minister of Budget and Economic Planning, Atiku Bagudu, made the disclosure on Thursday at a press briefing in Abuja. EDITOR’S PICKS BREAKING: … Read more
EKO HOT BLOG reports that the Presidency has replied to the 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, over the Nigerian National Petroleum Company Limited’s (NNPCL) $3.3 billion emergency crude repayment loan. This online media platform recalls that the repayment loan was secured on August 16, 2023, and was designed to bolster … Read more
EKO HOT BLOG reports the Economic and Financial Crimes Commission (EFCC) has denied claims of issuing an arrest warrant on loan defaulters. The anti-graft agency disclosed this in a statement through its official X handle on Friday, while reacting to a trending document titled ‘Arrest Warrant Processing’, ‘Loan Fraud Escalation’ and others. EDITOR’S PICKS List … Read more
EKO HOT BLOG reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN) has criticised the Nigerian National Petroleum Company Limited (NNPCL) for securing a loan of $3 billion for the purpose stabilising the Naira. IPMAN Chairman in Rivers State, Dr. Joseph Obele, in a statement made available to LEADERSHIP Weekend in Port Harcourt yesterday, … Read more
Lawan has revealed that the National Assembly is considering Buhari’s N22tn loan request. EKO HOT BLOG reports that the National Assembly is reconsidering President Muhammadu Buhari’s proposal to restructure the Federal Government’s outstanding Ways and Means of balance at the Central Bank of Nigeria. The Senate President, Ahmad Lawan, disclosed this on Tuesday after President … Read more
Wike has explained how Abia and Benue were denied a CBN loan because their governors supported him. Eko Hot Blog reports that Rivers State Governor, Nyesom Wike, alleged that some persons blocked the release of the loan from the Central Bank of Nigeria (CBN) to Abia and Benue States. EDITOR’S PICKS Suspend Your Campaigns To … Read more
Lagos leveraging on solid foundation laid by Tinubu – Hamzat …when Tinubu assumed office in 1999, there was no money in the state’s coffers, hence, he had to take loan. EDITOR’S PICK: Sanwo-Olu’s Wife Launches Integrated Measles Vaccination Campaign LASG Engages Stakeholders On Building Collapse Prevention Lagos Postpones 2022 Screening Test For Model Colleges, Upgraded … Read more
How to apply for CBN Tertiary Institutions Entrepreneurship Scheme Loan can be accessed below. EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has given more update regarding the Tertiary Institutions Entrepreneurship Scheme Loan. According to the CBN, as part of its policy measures to address rising youth unemployment and underemployment, introduces the … Read more
The House of Representatives has resolved to probe the alleged exclusion of Rivers State from the states to benefit from the world bank loans. Recall that governor Nysom Wike had alleged that the federal government excluded hi s state from states eligible to benefit from the loans. EkoHotBlog reports that Wike also alleged that only … Read more
Former President Olusegun Obasanjo has reacted to the Federal Government’s plan to source for fresh loans, saying borrowing to accumulate debt for the next generation is criminal. Speaking to Channels Television on the sidelines of an event in South Africa, Obasanjo noted that if the existing debt is left unserviced or unpaid, it might become … Read more
Soko Loans, in terms and conditions, grants its customers loans without collateral and lengthy paperwork. The user can then download the mobile application on their phone and activate a direct debit in the company’s favour. However, accepting the terms and conditions of the app gives the company access to the users phone contacts. The Federal … Read more