credit

FG Approves 500m Euro Credit Suisse Sovereign Guarantee

November 21, 2019 7:12 am

The federal government has approved the issuance of Euro 500 million sovereign guarantee from the Credit Suisse AG London Branch and a syndicate of international lenders.

Minister of State for Budget and National Planning, Clement Agba, told State House correspondents Wednesday after the weekly Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari. He said the international lenders will serve as collateral for the Euro 500 million facility, to be extended to the Bank of Industry.

He explained that the purpose of the loan is to finance major industrialisation projects and Micro-Small and Medium Enterprises (MSME) values chains …

Man Arrested Over Alleged ₦500m Credit Card Fraud

November 12, 2019 6:53 am

A 30-year-old suspected internet fraudster, Victor Ojionu, who specialized in hacking into credit cards belonging to Nigerians and foreign nationals, have been arrested by operatives of the Inspector General of Police Intelligence Response Team (IRT) at the Federal Capital Territory, Abuja, for stealing over ₦500 million within the space of five years.

It was gathered that Ojionu, who is currently undergoing interrogation at the Abuja office of the Economic and Financial Crimes Commission (EFCC), was alleged to have succeeded in defrauding his victims using a popular online retail site, Amazon.com, where he allegedly sells books.Sources disclosed that the Imo State-born

…

Afreximbank approves $1b for African trade

Afreximbank to support Eswatini with $140m credit facility

June 6, 2019 7:36 am

The African Export-Import Bank (Afreximbank), says it will provide a credit facility valued at two billion Rands (about 140 million dollars) to the Kingdom of Eswatini for trade and economic goals.

Prof. Benedict Oramah, Afreximbank’s President, in a statement said the facility would enable the Kingdom achieve required funding to meet trade and strategic economic goals.

Oramah made the announcement when he led a delegation of the bank to visit King Mswati III of the Kingdom of Eswatini in Mbabane.

He said that the facility would also enable the Kingdom to leverage its future financial flows as a tool for …