
FEC Approves ₦200 Billion Loan For Bank Of Industry
The Federal Executive Council (FEC) has approved the issuance of a Sovereign Guarantee of 500 million Euros (₦200bn) from the Credit Suisse AG London Branch and a syndicate of international lenders as collateral for 500m Euro facility to the Bank of Industry (BoI). The Minister of State, Budget and National Planning, Clement Agba, who spoke with State House Correspondents yesterday after the FEC meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja, said the loan was basically to finance major industrialization projects and micro-small and medium enterprises values chains in Nigeria for up to five years tenure …















