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THE Speaker of the House of Representatives, Hon. Femi Gbajabiamila has urged for the establishment of an Education Bank to provide interest-free loans to students in tertiary institutions in order to make funding education at that level more accessible to all. He also campaigned for the establishment of a Student Loan Scheme in the country. He made the remarks while delivering the 52nd convocation address at the University of Lagos, UNILAG, on Monday. The topic of the presentation was “Building Back Better: Creating a New Framework for Tertiary Education in Nigeria in the Twenty-First Century.” In this regard, he stated […]
In the previous few years, the administration of Sokoto State has spent no less than N2 billion on the growth of entrepreneurship in the state. The money spent on providing capital to entrepreneurs “and reactivating some dormant industries in the state” was raised by the government in partnership with the Bank of Industry and distributed to beneficiaries as a Micro, Small, and Medium Enterprises (MSMEs) Development loan. Sokoto State Governor, Rt. Honorable Aminu Waziri Tambuwal, made the announcement on Saturday as he wrapped up a three-day entrepreneurship skills development training for 130 youths in the state hosted by the Sokoto […]
The Central Bank of Nigeria’s (CBN) governor, Godwin Emefiele, said the pan-African payment and settlement system (PAPSS) will ease cross-border transactions and minimize the use of third currencies in intra-African trade. For cross-border transactions in Africa, the third currencies are dollars, pounds, and euros. Emefiele made the remarks on Thursday at the opening of PAPSS in Accra, Ghana. The platform for commercial use was officially introduced by the Africa Export-Import Bank (Afreximbank) in partnership with the African Union (AU) and the African Continental Free Trade Area (AfCFTA). Speaking at the ceremony, Emefiele stated that the launch of PAPPS is a […]
The Central Bank of Nigeria’s measures to ensure the stability of the Naira has not yielded the expected results. This was revealed in a Global Finance article titled “Central Banker Report Cards 2021: The Art Of Timing.” In the report card ranking, Emefiele-led CBN was given a “C” grade for performance, the same mark as last year. Last year, central bank governors were on high alert as a worldwide health crisis jeopardized both fiscal and physical health.
According to the World Bank, the bounce is due to rising oil prices as well as faster development in telecommunications and financial services. The Nigerian economy is predicted to increase by 2.5 percent in 2022, up from 2.4 percent in 2021, according to the World Bank. According to the bank’s January 2022 Global Economic Prospects report, which was released on Tuesday, Nigeria’s growth is expected to go up slightly to 2.5 percent in 2022 and 2.8 percent in 2023. It attributed the rise in oil prices to the rebound, as well as faster growth in telecommunications and financial services. “Higher […]
Stanbic IBTC Holdings Plc, a member of the Standard Bank Group, has created a short-term credit facility aimed at supplementing working capital to finance various business projects and bridging immediate cash flow needs of small and medium companies (SMEs). According to a lender statement, this practical lending solution allows SMEs to obtain loans with ease and convenience. It also has advantages such as repayment flexibility and simple documentation with no collateral. The ease of access to cash is noteworthy since it addresses one of the most pressing concerns confronting small and medium-sized enterprises in Nigeria: access to adequate finance. The […]