Federal Government has disclosed its plan to borrow about N850 billion from unclaimed dividends and dormant bank accounts to fund the 2021 appropriation. Minister of Finance, Budget and National Planning, Zainab Ahmed, made the disclosure on Tuesday during the virtual presentation on the 2021 budget. Recall that the FG had said that amounts in a … Read more
Ekiti State Commissioner for Finance, Akintunde Oyebode, says the state government has disbursed over N100m car loan to workers across various grades, Ekohotblog reports. Press Officer, Ministry of Finance, Dayo Adeniyi, who made this known through a ‘Press Release,’ added that Oyebode described the gesture as a demonstration of the state government’s commitment to the … Read more
loan takes effect from 2021 and will be terminated in 2024. The World Bank has approved Nigeria’s request for a $1.5 billion loan. This was announced in a statement by World Bank on Tuesday, December 15 noting that the loan kicks into effect from 2021 and will be terminated in 2024. “This Country Partnership Framework … Read more
World Bank Director for Nigeria, Shubham Chaudhuri on Wednesday approved a $750 million International Development Association (IDA) credit for Nigeria’s Power Sector Recovery Operation (PSRO). Shubham Chaudhuri said ”This is ultimately what is needed to lift 100 million Nigerians out of poverty. “The objective of this operation is to help turn around the power sector and … Read more
The Central Bank of Nigeria (CBN) says the bank does not charge any fee on COVID-19 loan application as claimed in false reports circulated on social media. The CBN’s Director, Corporate Communications Department, Mr Isaac Okorafor said this in a statement in Abuja on Monday. Okorafor explained that procedures for accessing the N50 billion Targeted … Read more
World Bank on Wednesday approved $2.2billion loans for six projects to support Nigeria’s development priorities. The bank explained that the approved programme of support in the fiscal year 2020 included Immunisation Plus and Malaria Progress by Accelerating Coverage and Transforming Services (IMPACT). The projects will strengthen health systems to deliver effective primary health care and … Read more
Nigeria’s premier and leading financial services provider, First Bank of Nigeria Limited, has announced that within the last year, it has supported educational institutions in the country with loans in the sum of over 10 billion naira. Ekohotblog understands that the Bank’s support is carried out through its FirstEdu product, an educational solution created to … Read more
Former President Olusegun Obasanjo says rising debt makes him worried about the future generations who would have to pay such loans. Ekohotblog understands Olusegun Obasanjo stated this during his speech at “The Nigerian Story, Why I am Alive Campaign”, which held on Friday in Lagos. Obasanjo said as of 2015, Nigeria’s total external debt was … Read more
-French Striker Augustin joins Monaco on loan. -He moved from RB Leipzig to Monaco. French striker Jean Kevin Augustin has moved to Monaco on a season long loan transfer from RB Leipzig. Augustin, 22, came through the youth system at Paris Saint Germain(PSG) and made his league debut in 2015, winning a French league champion’s … Read more
Indian police have sent support to a northern city to stop tensions after the murder of a two-year-old girl over an unpaid $144 loan. Police said two suspects have been detained after the girl’s body was discovered on a rubbish dump in Aligarh, in Uttar Pradesh state after she was abducted on May 31.Officers said … Read more
Dino Melaye, Senator representing Kogi West in the National Assembly, on Saturday raised the alarm over the latest move by the State Governor, Yahaya Bello, ahead of the state’s governorship election. Melaye said Bello requested a N30bn loan from the Central Bank of Nigeria, CBN. In a tweet, the controversial lawmaker alleged that the loan … Read more
Access Bank Plc yesterday announced it had signed a subordinated syndicated loan agreement for $162.5 million to fund its five-year strategy of becoming Africa’s gateway to the world. A statement from the bank said: “The facility has been arranged by FMO, the Dutch development bank, and is provided together with BIO (Belgian Investment Company … Read more