The Development Bank of Nigeria (DBN) was conceived by the Federal Government of Nigeria (FGN) in collaboration with the World Bank (WB), African Development Bank (AfDB), KfW Development Bank, French Agency for Development (AFD) and European Investment Bank (EIB) to address the major financing challenges facing Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria….
Mortgage Warehouse, given the liquidity constraint experience by primary mortgage lender in the Nigerian mortgage sector, it became very important to come up with a plan for diversified sources of short–term funds that will facilitate the funding capacity and origination of mortgages in Nigeria. Despite its attractive demography and impressively sustained economic growth for a…
My DLM experience: When I got to DLM, I didn’t know what to expect except to try not to get on the nerves of the CEO. I mean sure, nobody wants to get on the nerves of their boss. However, Mr. Ayere got me more scared then I expected to be. I had formed this…
(IPPIS), The Federal Government saved about N273.8bn through the implementation of the Integrated Personnel and Payroll Information System (IPPIS). The Accountant-General of the Federation, Ahmed Idris, said this at a meeting of Vice – Chancellors, Registrars and Bursars of Federal Universities held in Abuja. The AGF described the IPPIS scheme as one of the Federal…
Apex bank refutes reports on transactions with govt as mischief The Federal Government emerged the highest claimant against the Central Bank of Nigeria (CBN), in a two-way financial activity in the last five years, netting N3.7 trillion. According to a financial transactions obtained from the apex bank, government was the net creditor of CBN in…
A global credit rating agency, Moody’s Investors Service, has said Nigeria is trapped in a low growth path for the time being. The Vice President – Senior Credit Officer, Sovereign, Aurelien Mali, said on Wednesday that government revenue weakness remained a key credit challenge, adding that the country’s balance sheet had “deteriorated to a level…
The Federal Government (FG) will borrow $2.7bn (N824.82bn) from foreign sources in 2019, the Debt Management Office (DMO), has said. In a statement made available to our correspondent in Abuja on Wednesday, the DMO said that the first priority would be to borrow from multilateral and bilateral sources. The balance, it said, would be borrowed…
The Debt Management Office (DMO) has said the Federal Government will auction N100bn worth of bonds by subscription on June 26. A circular by the DMO on Tuesday showed the breakdown of the figure to include an N30bn five-year re-opening bond that would mature in April 2023 and be offered at 12.75 percent; another N40bn…
Primero raises N16.5b: Primero Transport Services Limited has raised N16.5 billion, seven-year bonds, and would be paying semi-yearly coupons at a fixed rate of 17 percent per year. Kindly Click here to read more
CERPAC Receivables Funding SPV Plc. (CRFS), under its Future Flow Securitisation of Expatriate Receivables has paid its second scheduled Semi-Annual payment for the N4.877billion discrete and the N12.5billion Series 1 Bonds, as well as the first scheduled Semi-Annual payment for the N1.6billion Series 2 Bonds. All payments constitute interest and principal due as of the…
