The Development Bank of Nigeria was established in 2017, with the aim of alleviating financing constraints faced by micro, small and medium enterprises in the country. The Managing Director of the bank, Mr. Tony Okpanachi, in this interview speaks on the achievement of the bank one year after it commenced operations. Goddy Egene provides the […]
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The Development Bank of Nigeria has entered into partnership with LAPO Microfinance Bank to support 10,000 businesses in the Micro, Small and Medium Enterprises sector with low interest loans. The DBN said in a statement on Tuesday that the loan was part of measures aimed at addressing the financial challenges facing the MSMEs in the […]
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The European Investment Bank and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country. The European Investment Bank has finalized a US $20-million equity stake in the new financing institution, alongside US $50 million equity participation […]
Read More The Development Bank of Nigeria, which was recently established by the Federal Government, on Monday commenced lending activities to the economy with the release of ₦5 billion to three microfinance banks. The amount is for on-lending by the microfinance banks to 20,000 entrepreneurs operating in Micro, Small and Medium Enterprises sector of the economy. The […]
Read More The newly established Development Bank of Nigeria, DBN, will not collapse like others before it, the Managing Director, Mr. Tony Okpanachi, has said. Okpanachi who spoke in Abuja, yesterday, during plenary on Access to Finance at the on-going Nigeria Economic Summit (NESG), said a time-tested and internationally proven business model has been designed by the […]
Read More The Micro, Small and Medium Enterprises sector of the Nigerian economy contributes about 45 per cent of the nation’s GDP, but only about 10% of operators in the sector have access to any kind of bank loan, leaving the rest to work with little capital. Those who are able to obtain bank loans do so […]
Read More The newly licensed Development Bank of Nigeria will finance about 20,000 Micro, Small and Medium-scale Enterprises in the first year of its operations. The Managing Director, DBN, Mr. Tony Okpanachi, stated this on Friday during a media briefing where some members of the management team were unveiled by the Minister of Finance, Mrs. Kemi Adeosun. […]
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