The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has urged Nigerian youths, especially students and young graduates, to come up with innovative ideas that will transform them from job seekers to job creators, assuring that the apex bank was ready to fund such initiatives through its numerous empowerment schemes. He said there was already […]
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The Bank of Agriculture (BoA) has lamented that it is being owed ₦37.4 billion out of its current loan portfolio of ₦47.2 billion by Micro, Small, Medium Enterprises (MSMEs) and large scale beneficiaries both in agricultural and non-agricultural sector. Its Managing Director/Chief Executive Officer, Kabir Mohammed Adamu stated this when he received on oversight function, […]
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The Federal Government has disbursed ₦125 million as loans to Micro Small and Medium Enterprises (MSME) in Akwa Ibom. The Vice President, Prof. Yemi Osinbajo, disclosed this at the Nationwide MSME Clinics for viable enterprises, Akwa Ibom Edition in Uyo on Saturday. Osinbajo said “about 2,445 Akwa Ibom people have benefitted from the programme across […]
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The Bank of Industry (BoI) has disbursed loan in excess of ₦47 billion to support entrepreneurs in Kaduna State in the micro, small and medium enterprises, MSMEs, category, Managing Director of the bank, Mr. Olukayode Pitan, has said. Pitan, who disclosed this at a meeting with the Kaduna State governor, Mallam Nasir el-Rufai, added that […]
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The African Development Bank (AfDB) has called on financial credit providers to increase lending to Micro, Small and Medium Enterprises (MSMEs) in Africa to 135 billion U.S. dollars. A statement issued by Mr Emeka Anuforo, the Communications Officer of the Bank, in Abuja on Wednesday said that increasing affordable loans would promote the growth of […]
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The 3,239 bureaux de change (BDCs) approved by the Central Bank of Nigeria (CBN) got $520 million from the apex bank dollar interventions in the last four weeks, correspondent reports. The funds, followed $40,000 per BDC weekly dollar allocations from the CBN, in its commitment to deepen liquidity in the foreign exchange market. A circular […]
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Acting President, Yemi Osinbajo, has signed into law two bills from the National Assembly aimed at ultimately facilitating access to affordable credit for Nigerians. Osinbajo’s spokesperson, Laolu Akande, in a statement said the new Acts are the Secured Transactions in Movable Assets Act, 2017 (otherwise known as Collateral Registry Act) and the Credit Reporting Act, […]
Read More The Federal Government is targeting an annual savings of ₦2.6bn for Micro, Small and Medium Enterprises in registration costs to start their businesses. The move is part of measures to improve the business environment and make Nigeria an easier place for businesses to thrive. Details of the savings are contained in the Executive Order, which […]
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The responsibility of the government to its’ people is to provide employment and security, among other things. However, since government cannot provide full employment for the people, what it does is to provide the enabling environment for non-state actors to bridge the gap. These non-state actors include small and medium scale enterprises, among others. Small […]
Read More The Federal Government on Thursday said that local industries would be encouraged to grow the Nigerian economy and lead the country out of the current crisis. To achieve that feat, the government said it had put measures in place to ease the process of doing business in the country. Vice President Yemi Osinbajo gave the […]
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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 […]
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The Federal Executive Council (FEC), presided over by President Muhammadu Buhari, has approved a $1.3 billion capital facility for the takeoff of the Development Bank of Nigeria (DBN). The Minister of Finance, Kemi Adeosun, who briefed State House correspondents at the end of the meeting, said the loan has repayment period of 20-21 years and […]
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