10

Aug

Sterling Has Launched ‘i Go Trade’ To Make It Easier For Micro-traders To Get Loans

Sterling Bank has announced the launch of its new loan product ‘I Go Trade’ to help close the financial inclusion gap and provide client-centric solutions to its diverse customer base. The product would make low-interest, collateral-free loans up to N300,000 more accessible to artisans and other small business owners throughout communities. This loan will provide beneficiaries with financial flexibility, allowing them to receive the finances they need to acquire inventory, working capital, and other assets that will help them stay afloat and eventually make a profit. Shina Atilola, Divisional Head, Retail and Consumer Banking, commented on the new product, explaining […]

23

Jun

The Bank Of Industry Has Given Loans Totaling N969.7 Billion Since 2015

The Bank of Industry (BoI) has said that it has disbursed approximately N1 trillion in loans to various firms since 2015. Mrs Aderonke Akinluyi, the Bank of Industry’s Deputy Head, Business Development, revealed this at a webinar hosted by the Lagos Chamber of Commerce and Industry (LCCI) on Tuesday, where she said the bank disbursed loans worth N969.7 billion between 2015 and 2020. According to the Nigerian News Agency, Akinluyi stated that the monies were distributed to almost three million Micro, Small and Medium Enterprises (MSMEs) and 653 major enterprises throughout the time period, resulting in the creation of 6.98[…]

27

May

The World Bank Approves A $700 Million Credit To Assist Nigerians In Gaining Access To Potable Water.

The World Bank has authorized a $700 million loan to Nigeria’s Sustainable Urban and Rural Water Supply, Sanitation, and Hygiene Program (SURWASH) to help enhance access to safe drinking water and sanitation services. This was announced by the World Bank in a statement made on Thursday. According to the global financial organization, the loan comes from the International Development Association (IDA) and is anticipated to provide basic drinking water services to 6 million people and enhanced sanitation to 1.4 million people. “Today, the World Bank approved Nigeria’s Sustainable Urban and Rural Water Supply, Sanitation, and Hygiene Program,” the statement added[…]