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Heritage Bank Empowers Young Entrepreneurs

Heritage Bank Empowers Young Entrepreneurs

As the need to support young Nigerians with great business ideas grows, Heritage Bank Limited says it has collaborated with the Nigerian Young Professionals Forum to intensify its support for young entrepreneurs with N50m under the Young Entrepreneurs and Students Grant Scheme. In a statement on Monday, the lender said the grant was awarded to about […]

Most Nigerian Banks Charge 30% For Mortgage Loans

Most Nigerian Banks Charge 30% For Mortgage Loans

The Central Bank of Nigeria has released its monthly deposit and lending rate report showing how much banks interest banked charged for borrowing and how much they paid for deposits. As has been the case for years, the margin between deposit and lending rates was over 25% on the average an indication that the CBN’s […]

How To Protect Yourself As A Loan Guarantor

How To Protect Yourself As A Loan Guarantor

Becoming someone’s guarantor should not be taken lightly; it is far riskier than simply giving a character reference. *Try to limit your liability: Many guarantees cover all of a borrower’s obligations to a lender (these are called “All Obligations” guarantees). This means that if you agree to guarantee someone’s car loan, you could be unwittingly […]

How You Can Quit As A Loan Guarantor

How You Can Quit As A Loan Guarantor

It is not very easy to wriggle out of your role as a guarantor in case the original borrower defaults. Nevertheless, you can still come out of the situation. Becoming a guarantor for a loan is a huge responsibility. It means you are providing a guarantee to the lender that you will repay the debt […]

CBN To Increase Support For Rice Farming

CBN To Increase Support For Rice Farming

The Central Bank of Nigeria (CBN) has pledged to increase its support for rice farming across the country. CBN Governor, Mr. Godwin Emefiele, made this promise while inspecting rice farms in Itane, Ketar Fulani and Gwadan Gwaji villages in Kebbi State. Mr. Emefiele, who expressed satisfaction with the yield of farmers that hearkened to the […]

Types Of Bank Loans

deciding what type of loan you need can be a little overwhelming because bank loans come in many shapes and sizes. Here are different types of bank loans: Fixed rate: Fixed rate loans are among the most common consumer loans. Fixedrate loans keep the same interest rate throughout the life of the loan. The interest […]

Banks Advance N21.3tn Loans In 10 Months

Banks Advance N21.3tn Loans In 10 Months

The total domestic credit from the banking sector to the economy dropped by 0.8 per cent to N21.3tn as of the end of October 2015, statistics obtained from the Central Bank of Nigeria have revealed. The CBN in its economic report for October stated that the drop in credit to the economy was a reflection […]

Group Urges EFCC To Investigate CBN’s $7bn Loan To Bankers

Group Urges EFCC To Investigate CBN’s $7bn Loan To Bankers

The Civil Society Network Against Corruption, CSNAC, has urged the Economic and Financial Crimes Commission, EFCC, to investigate a Central Bank of Nigeria, CBN, soft loan of $7 billion granted to a consortium of bankers in 2006. In a petition sent to the anti-graft agency and signed by the coalition’s chairman, Olanrewaju Suraju, CSNAC stated […]

FG Loans $3.5bn From W’Bank And AfDB

FG Loans $3.5bn From W’Bank And AfDB

The Federal Government is seeking from the World Bank and the African Development Bank the sum of $3.5bn (N697bn) in emergency loans to fill a growing gap in its budget in the latest sign of the economic damage being wrought on oil-rich nations by tumbling crude prices. The $2.5bn (N498bn) loan from the World Bank […]

Maritime Microfinance Bank Loans MSMEs With N201m

Maritime Microfinance Bank Loans MSMEs With N201m

The Maritime Microfinance Bank Limited has earmarked N201m for disbursement as loans to Micro Small and Medium Enterprises in 2016. A statement by the bank said while N120m would be disbursed as micro loans, N81m would be disbursed by the bank as the SME loans. Acting Managing Director of the bank, Mr. Oluwaseyi Hamilton, said […]

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