The benchmark interest rate was previously raised by the Central Bank of Nigeria (CBN) by 100 basis points to 17.5 percent. Godwin Emefiele, the governor of the CBN, made this announcement on Tuesday following a meeting of the Monetary Policy Committee of the top bank (MPC). Concern has been voiced about the CBN’s fifth interest rate increase by manufacturers and other important groups. The CBN said that the small drop in inflation in December 2022 showed that previous increases were starting to have an effect. The CBN emphasized the need to continue tightening its fiscal policy, nevertheless.
The agriculture industry contributes significantly to the global economy by giving people all around the world access to food, fiber, and other goods. So, farmers need to have access to money so they can buy land, equipment, and other things they need to run their businesses. Lending to farmers is one way to get money. A farmer’s loan is a type of loan that was made just for farmers and farming businesses. We will go through how to apply for a farmer’s loan, the different sorts of loans that are available, the steps involved, and the criteria for acceptance. Farmer’s[…]
The Students Loan Bill, intended to provide students with the funding to begin, continue, and complete their postsecondary education, has been approved by the National Assembly’s two chambers. The Speaker of the House of Representatives, Femi Gbajabiamila, was the primary sponsor of the legislation known as the “Students Loan (Access to Higher Education) Bill, 2019.” His Special Adviser on Media and Publicity, Lanre Lasisi, revealed this in a statement. If President Muhammadu Buhari signs the legislation, it will lead to the creation of a Nigerian Education Bank, which Nigerians can use to get interest-free loans for higher education or other[…]