Loan Facility
Kano set to design metro transport master plan
The Kano state Executive Council has approved the constitution of a committee, to design a Strategic Metropolitan Transport Master Plan, in order to regulate the transport system in the metropolis. This is contained in a statement signed by the State Commissioner for Information, Mr Muhammad Garba, made available to newsmen on Friday. It said the development of a Transport Master Plan for the state would strengthen economic growth and development, in line with the megacity goal of the Ganduje administration. Garba, in the statement, noted that the terms of reference of the committee, included a comprehensive mass transit system, to address the current transportation challenges. “It will also identify facilities and services to manage the dynamics of Kano as an emerging Megacity.” the state...
Lagos launches N5 billion support capital for low-cost schools
Lagos State Employment Trust Fund Lagos State Government in partnership with First Bank of Nigeria has launched N5 billion Post-Coronavirus (COVID-19) Recovery Support capital for the education sector to support low-cost private schools across the state in mitigating the negative impact of the pandemic. The intervention fund, which targets over 2,000 private schools, was formally launched by Governor Babajide Sanwo-Olu on Friday at a ceremony held at the Banquet Hall in the State House, Alausa, Ikeja. Lagos State Employment Trust Fund (LSETF) collaborated with First Bank of Nigeria Limited to facilitate the matching fund, which will be given as a loan to schools and vocational education centres across the State. Sanwo-Olu said the intervention was part of the State Government’s sustainable...
Afreximbank clinches African Banker’s Debt Deal of the Year award
The African Export-Import Bank (Afreximbank) has been announced the winner of the Debt Deal of the Year Award at the 14th Annual African Banker Awards 2020. The awards, which held virtually on Wednesday, recognized institutions and individuals driving growth and development in Africa and creating new economic opportunities for citizens and communities across the continent. The Debt Deal of the Year Award was granted to Afreximbank for a EUR 1 billion syndicated senior loan facility arranged with Credit Suisse for Nigeria’s Bank of Industry. The funds have supported the Bank of Industry’s (BoI) work expanding, diversifying and modernizing Nigeria’s industrial sector. Having originally been sized at EUR 750 million, the debt raising was successfully upsized to EUR 1 billion through a general...
