23

May

In 2022, The AfDB Will Lend $500 Million To Women In Order To Raise $5 Billion For African Women’s Companies

Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), has stated that the financial organization will lend $500 million to women by 2022. This comes as the bank’s Affirmative Action for Women in Africa (AFAWA) initiative raises $5 billion with the help of French President Emmanuel Macron and the G-7. This information is contained in a statement released by Adesina on his official Twitter account on Sunday, May 22, 2022, in which he also stated that the bank gave out $483 million to financial institutions to lend to women businesses in 2021. Adesina’s statement comes as the bank begins […]

05

May

NEXIM Bank Secures ₦10.2 Billion And $3.25 Million In Loan Recovery Drive

Mr. Abba Bello, Managing Director/Chief Executive of the Nigerian Export-Import Bank (NEXIM), stated that the implementation of aggressive debt recovery and proactive loan measures increased recoveries from N200 million in December 2016 to N10.2 billion and $3.25 million between January 2017 and February 2022. The MD also stated that the loan recovery drive had resulted in the seizure of assets worth around N7 billion, which are currently for sale. He stated that efforts to clean up the balance sheet, as well as improvements in risk management techniques, had resulted in new loans granted in 2018 performing 100% of the time,[…]

05

May

The Central Bank Of Nigeria Has Approved ₦2 Billion For Imo Craftsmen

The Central Bank of Nigeria (CBN) stated on Tuesday that its staff at the Jos Branch averted what would have been another big fire calamity in the country. The Central Bank of Nigeria, CBN, has authorized a ₦2 billion loan to the Imo State government for the empowerment of the state’s artisans. Ford Ozumba, the Commissioner for Labour and Productivity, announced this to journalists on Tuesday in Owerri, while unveiling the Imo 2022 Entrepreneurial Product Expo in collaboration with the Central Bank of Nigeria. He stated that the Imo State administration approached the CBN and was deemed competent to receive[…]