Tag: loanTag: <span>loan</span>

Top 5 Stories of The Day | Nigeria's Debt to World Bank Set to Hit ₦9.2 Billion as FG Considers Six New Loans
YNaija February 26, 2025

Top 5 Stories of The Day | Nigeria’s Debt to World Bank Set to Hit ₦9.2 Billion as FG Considers Six New Loans

Nigeria's debt to World Bank set to hit ₦9.2 billion as FG considers six new loans Jonathan claims INEC’s votes are inaccurate due to ghost voters Natasha Akpoti-Uduaghan files a…

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National Assembly approves of emergency rule, Tinubu applauds their efforts Ibok-Ete Ibas assumes the role of sole administrator in Rivers State, demands civility Nigerian passport rises in global ranks, secures 91st position Atiku announces coalition of parties against 2027 general election Minister of Interior reveals that FG pardoned 4,000 prisoners, saving ₦1 billion on feeding Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn't miss. National Assembly approves of emergency rule, Tinubu applauds their efforts The National Assembly has approved President Bola Tinubu’s request to impose emergency rule in Rivers State, leading to the dissolution of the state government and the appointment of a sole administrator for a six-month period. In response, President Tinubu expressed appreciation to the National Assembly for what he described as a “patriotic decision.” His comments were shared in a statement released by his special adviser on information and strategy, Bayo Onanuga. “The situation in Rivers State had reached a critical point, posing a serious threat to essential oil and gas infrastructure security. This instability risked undermining the national economy and jeopardising the progress achieved through the reforms implemented since our administration began in May 2023,” Tinubu stated. Ibok-Ete Ibas assumes the role of sole administrator in Rivers State, demands civility Ibok-Ete Ibas, the sole administrator of Rivers State, has warned that his administration will not allow anyone to disrupt the peace and stability of the state. Speaking in a state-wide address from Port Harcourt, the state capital, Ibas said there would be no place for disorder under his leadership. He explained that his main goal is to bring back law and order while creating the right conditions for democracy to return to the state. “Let me be clear, under my leadership, people’s rights and freedoms will be respected and protected. The rule of law will be strictly followed,” Ibas said. Nigerian passport rises in global ranks, secures 91st position Nigeria has climbed one spot to 91st place in the latest global passport ranking out of 199 countries. While this marks a small improvement in the country’s global standing, travel remains challenging for Nigerian citizens, as visa-free access is still limited to 45 countries, the same as last year. According to the Henley Passport Index for 2025, Nigeria shares the 91st position with Ethiopia and Myanmar, both of which are dealing with conflicts involving armed groups. Atiku announces coalition of parties against 2027 general election Former Vice President Atiku Abubakar has announced forming a coalition to remove President Bola Ahmed Tinubu from office in the 2027 elections. Speaking at a meeting of key opposition leaders in Abuja, Atiku made the declaration during a press conference attended by several opposition figures, including former APC members who have defected. When asked if this new coalition would serve as the main opposition against the APC in 2027, Atiku responded, “Yes, this marks the beginning of the opposition coalition ahead of 2027.” Minister of Interior reveals that FG pardoned 4,000 prisoners, saving ₦1 billion on feeding The Minister of Interior, Dr. Olubunmi Tunji-Ojo, has announced that the Federal Government released over 4,000 inmates from correctional facilities as part of efforts to reduce overcrowding, saving ₦1 billion in feeding costs. Tunji-Ojo explained that many of those released had been jailed over minor fines, and the initiative ensured their swift freedom. “Last year, just over 4,000 inmates were released in one day. We conducted a detailed analysis and found that many inmates were there due to petty fines. This project allowed us to release over 4,082 inmates, saving the government ₦1 billion in feeding costs,” he stated.
YNaija July 31, 2024

Top 5 Stories Of The Day | Nigerian Passport Gains Visa-free Access to 45 Countries in Global Ranking, Rises to 92nd

Nigerian passport gains visa-free access to 45 countries in global ranking, rises to 92nd NCS suspends import duties and tax on critical food items Nigeria requests for $500m from World…

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YNaija August 18, 2023

FG’s N5bn Subsidy Removal Palliative To States Revealed to be a Loan; Tobi Amusan Cleared of Anti-Doping Violation by AIU | 5 Things That Should Matter Today

FG’s N5bn Subsidy Removal Palliative To States Revealed to be a Loan Tobi Amusan Cleared of Anti-Doping Violation by AIU President Tinubu: Subsidy Removal Challenges Will Pave Way for a…

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YNaija January 19, 2023

2023: Reject my husband if he fails to perform as president – Tinubu’s wife to Nigerians; Senate asks CBN Gov, Finance Minister for details of N22.7trn loan | 5 Things That Should Matter Today

2023: Reject my husband if he fails to perform as president – Tinubu’s wife to Nigerians Senate asks CBN Gov, Finance Minister for details of N22.7trn loan LP not a…

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Ayọ̀délé Ìbíyẹmí November 5, 2020

Nigeria’s debt profile is a problem for the country’s future

Like many third world countries, Nigeria is enmeshed in a mountain of debt to financing corporations and international finance agencies. The latest news about what has now become Nigeria’s loan-taking…

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CBN
Editor July 16, 2020

Wilfully defaulting on your loans is no longer an option, thanks to this new CBN directive

Nigeria has a serious debt problem. It is such a pervasive problem that families will not invest in the businesses of their family members, banks refuse to give loans without…

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Omoleye Omoruyi April 11, 2018

Payday Loan: The Power of Now

Yomi, dropping his phone slowly on the table, changed the voice control to a loudspeaker and continued to type slowly on his laptop. His step-brother, Gbade, had just called to…

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Azeez November 15, 2017

Instead of taking loan, FG should recover $21.7bn from NNPC – Falana

Human right lawyer, Femi Falan has urged the Federal Government to recover unremitted funds from the Nigerian National Petroleum Corporation (NNPC) rather than borrowing. He spoke on Wednesday in Lagos at a…

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Azeez November 14, 2017

Senate approves Buhari’s $5.5bn loan request

The Senate has approved a $5.5 billion loan request by President Muhammadu Buhari. Background: Buhari had asked the upper chamber to approve the borrowing of $2.5 billion to finance the 2017…

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Samuel Okike October 20, 2017

The Late 5: Buhari’s proposed $5.5bn loan could take up to 30 years to repay, FG releases N3.5bn for vaccination programme, and other top stories

Good evening. Here are the top 5 stories that drove conversation today: It's President Muhammadu Buhari's second day in Turkey where he is attending the D-8 Summit and, as you'd…

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Azeez October 20, 2017

$5.5bn loan: It may take 30 years to repay – Adeosun

Minister of Finance, Kemi Adeosun has said it may take five to 30 years before the $5.5 billion being sought by President Muhammadu Buhari can be repaid. Background: Buhari had written…

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Tolu October 14, 2017

21,870 Kaduna teachers fail primary 4 test | The 5 numbers that mattered this week

$5.5 billion - President Buhari wrote to the Senate seeking approval for an external loan worth this amount. The fund will be channelled towards funding capital projects in the 2017…

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Azeez August 10, 2017

Group defrauding entrepreneurs with loan empowerment scam – FG

The Federal Ministry of Industry, Trade and Investment on Thursday said a faceless group was defrauding entrepreneurs under the guise of assisting them with loans. Special Adviser on Media to…

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Azeez August 6, 2017

Skye Bank seeks to take over Omokore’s assets

The management of Skye Bank Plc is planning to take over some oil wells belonging to Jide Omokore, who is involved in some corruption cases, TheCable reports. The bank said…

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Editor July 14, 2017

Etisalat to 9Mobile: How did it go from boom to burst, to new beginnings?

by Alexander O. Onukwue It began with zipped green lips, that gradually became unzipped, and was unveiled to us as the Naija Network. Etisalat, from day one, looked like it…

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Sponsor May 18, 2017

Need a loan to start a business or project as a Corper? Apply for Credit Direct ”EmpowerTheCorp” loan today 

Every year, hundreds of thousands of Corp members complete the mandatory one year service to the nation and set out to add value to the society and create the life…

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Azeez April 27, 2017

‘Court freezes all bank accounts of NDDC boss’

by Azeez Adeniyi A Federal High Court in Uyo has ordered the freezing of all accounts and forfeiture of a property belonging to Nsima Ekere, the managing director of the…

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Tolu March 11, 2017

N541.8bn loan, 37 deportees | The 5 numbers that mattered this week

N541.8bn - Three Nigerian banks set to take over telecommunications company, Etisalat for its failure to pay a loan obtained in 2015. 500,000 - The number of jobs to be…

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Oludolapo Adelana February 21, 2017

Nigeria will not seek IMF loan – Adeosun

by Dolapo Adelana Finance minister, Kemi Adeosun has said Nigeria will not apply for an International Monetary Fund (IMF) loan as it is pursuing its own economic reform plan. Adeosun…

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Tolu February 18, 2017

N40m wildlife feeding budget, $2.5bn loan | The 5 numbers that mattered this week

N40 million - The amount of money set aside in the 2017 National Budget for feeding and maintenance of wildlife in Aso Rock Presidential Villa. N775 million - The Federal…

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Oludolapo Adelana January 13, 2017

Paris Club loan: FG refunds N388.3bn to states

The Federal Government has effected the payment of about N388.3 billion to 35 states as refund of the Paris Club loan over deductions. This action is in line with helping…

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Oludolapo Adelana December 9, 2016

‘FG not interested in IMF loan’

The Federal Government says it is not sourcing any loan from the International Monetary Fund (IMF). James Akpandem, media adviser to the Minister of Budget and National Planning, Udo Udoma…

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Oludolapo Adelana December 8, 2016

Kaduna lawmaker in loan scandal

Details have emerged on how the lawmaker representing Kaduna North Federal constituency in the National Assembly, Honourable Samalia Suleiman borrowed the sum of N130m to offset a N122m loan he…

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Isime Esene November 7, 2016

Why Iyanya dumped Ubi Franklin’s MMMG label + more on The Slab with Isime

Chuks Okpani, Roqeebah Olaoniye, Ezinne Ajoku and Tolu Omoyeni join Isime Esene on The Slab this week to talk about Iyanya's move to Mavin Records, Lagos government employing university graduates as…

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Op-ed Editor November 5, 2016

Pius Adesanmi: So something positive and sensible can come out of Nigeria’s National Assembly?

by Pius Adesanmi. I just heard with one ear that Senate has rejected President Buhari's request for permission to borrow $30 billion. Eda o l'aropin o. So something positive and…

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Op-Ed Editor July 14, 2016

Opinion: In Rivers state, the misery is now complete

by Chris Finebone When a governor decides to use expected dividend earnings of his State as collateral security for borrowing as in the case of the N9b Zenith Bank loan secured…

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Mazi Emeka July 1, 2016

CBN to give N3m loan to NYSC members

The Central Bank of Nigeria of Nigeria has disclosed that it set aside N2.5 billion loan for members of the National Youth Service Corps with profitable business ideas. According to the apex…

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Mazi Emeka June 30, 2016

General Electric to invest over $2bn in Nigerian railway sector

The Minister of Transport, Rotimi Amaechi, on Wednesday, disclosed that General Electric (GE) plans to invest $2 billion into the Nigerian railway system. The Minister stated this during an interview…

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Isime Esene June 24, 2016

Simon Utsu: How to identify a young, wicked sadist

by Simon Utsu Any young man/ woman who gloated(or is still gloating) over Senator Ben Murray Bruce's political travails in the hands of AMCON, is a young, wicked sadist. Before…

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