Tags : Loan

Banks’ Consumer Loans Decline By 17%

Following a decline in money supply triggered by the inflation-fighting measures of the Central Bank of Nigeria,  banks reduced consumer loans by 17 per cent (N400 billion), in one month. This is the first time that consumer loans would drop in three years. Consumer loans are loans by banks to one or more individuals for […]Read More

Nigeria To Pay IMF $3.51bn In Five Years

The International Monetary Fund is expected to receive from the Federal Government of Nigeria a total of $3.51bn between 2022 and 2026 to offset a $3.4bn loan. This is according to information obtained from a webpage on the IMF’s website, titled ‘Nigeria: Financial Position in the Fund as of January 31, 2022.’ Recall in April […]Read More

Chinese Loan Hits $3.59bn On 15 Projects

According to an analysis of the external debt stock data from the Debt Management Office, Nigeria’s debt to China increased from $3.26bn as of September 30, 2020, to $3.59bn as of September 30, 2021. This shows an increase of $330m in one year. Although the Federal Government has been mostly secretive about the terms of […]Read More

Non-performing Loans Decline 0.1%

The non-performing loans in the banking sector have slightly declined from 5.8 per cent in May to 5.7 per cent in June. This, according to the Central Bank of Nigeria showes more resilience in the banking sector. CBN disclosed this in the personal statements of members of the Monetary Policy Committee. According to a member […]Read More

Nigeria- China Debt Now Stands At $3.40 Billion

The  Debt Management Office (DOC) has revealed the Buhari-led government has incurred a loan that totals $2.20 billion from the Chinese government since its inception in 2015. According to the statistics obtained from the DMO, Nigeria’s total debt from China as of June 30, 2015, stood at $1.38bn. However, the country’s debt portfolio from China […]Read More

CBN To Loan $70,000 To SME’s And Households Affected By

 The Central Bank of Nigeria (CBN), through NIRSAL Microfinance Bank, has announced the reopening of its portal for Micro Small and Medium Enterprises (SMEs) as well as households affected by COVID-19 to access up to $70,000. According to the Central Bank of Nigeria, household owners whose livelihood was affected by the Coronavirus and business owners […]Read More

DBN Disburses N191.7 Billion Loans In 2020

The Development Bank of Nigeria has said that it the volume of loans disbursed rose from N101.5billion in 2019 to N191.7billion in 2020, a 89 percent increase recorded. It said this in its 2020 financial report explaining that the growth was in line with its mandate of facilitating socioeconomic development by improving financial access for […]Read More

COVID-19: CBN Disburses N149.2bn Loans To Households

As part of measures to reduce the effect of the COVID-19 pandemic, the Central Bank of Nigeria has disbursed N149.21 billion to 316,869 households across the country. After meeting required guidelines, the funds were disbursed through the NIRSAL Microfinance Bank to beneficiaries– the first phase of the N150 billion Targeted Credit Facility (TCF). CBN Governor […]Read More