Nigeria Orders banks to loan more money to spur economy
By Bloomberg
06 July 2019 |
4:45 pm
In an effort to boost economic growth in Africa’s most populous country, Nigeria is giving its banks a choice: lend more of their money, or hand it over to the central bank and earn nothing on it.
Related
15 Jun 2022
The maiden edition of the Nigeria Solidarity Support Fund (NSSF) Awards treated winners and guests to a delightful evening on the 9th of June at NOK by Alara, Lagos.
The awards celebrated and recognised people who have contributed massively to the healthcare sector in Nigeria and revealed the continued efforts of the NSSF to provide better healthcare in Nigeria.
16 Jun 2022
Tax revenues could make a vital contribution to the development of African countries. But the untapped informal sector, also known as the shadow economy, and inadequate collection of taxes stand in the way.
24 Jun 2022
Nigerian stakeholder discuss the potential effects of a draft regulation that requires online platforms like Twitter, Facebook and Tiktok to register and open offices in Nigeria and appoint contact persons with the government's information technology development agency.
22 Jun 2022
Several cities in the country were thrown into darkness on Sunday, June 12 2022, following the collapse of the national grid for the sixth time in 2022. Here is how multiple national grid collapse is paralysing business activities in Nigeria.
22 Jun 2022
A new deal paves the way for the development of the first African-owned Covid-19 vaccines. Cape Town-based Afrigen is working with a Belgian biotech company to develop mRNA shots. Also, Kenya has no reproductive health legislation but the public is going to give its input on a regional bill that could make a big difference to sexual health services. Finally, in football news, Senegal's Sadio Mané moves to Bayern Munich.
23 Jun 2022
A new deal paves the way for the development of the first African-owned Covid-19 vaccines. Cape Town-based Afrigen is working with a Belgian biotech company to develop mRNA shots. Also, Kenya has no reproductive health legislation but the public is going to give its input on a regional bill that could make a big difference to sexual health services. Finally, in football news, Senegal's Sadio Mané is moving from Liverpool to Bayern Munich.
25 Jun 2022
German pharmaceutical company BioNTech has begun construction of an COVID-19 vaccine plant in Rwanda. When completed, it will be the first mRNA vaccine plant in Africa.
26 Jun 2022
Relatives of murdered Congolese independence hero Patrice Lumumba attend a sombre ceremony in Brussels as Belgium returns his tooth. It's all that remains of him after his assassination in 1961. Also, Kenya has no reproductive health legislation but the public is going to have its say on a regional bill that could make a big difference to national sexual health services. And the refugee status of hundreds of thousands of Ivorians who fled post-electoral violence in the country in 2011 is coming to an end.
24 Jun 2022
The billionaire was named prime minister for the fourth time and asked to form a government to save the country from financial collapse. He urged fractious politicians to set aside differences to secure an IMF deal.
24 Jun 2022
What could have been a major tragedy was promptly averted on Friday, 10 June 2022 when a petrol tanker suddenly caught fire in Ughelli, Delta State.
24 Jun 2022
The European Union should change the way it does business with Africa to redress imbalances left over in part from the colonial era, EU lawmakers have said.
Latest
2 hours ago
US oil company ExxonMobil recorded a net profit of $56 billion last year, beating its previous 2008 record. It benefitted from a surge in prices following the Russian invasion of Ukraine and a cost-cutting drive during the pandemic.
2 hours ago
Getting enough sleep is essential to good health, but millions of people struggle with it. As a result, many of us turn to calming music in the hopes that it will lull us to sleep.
2 hours ago
Australia will replace the portrait of Queen Elizabeth II on its $5 banknote with a new design to reflect and honor the history of its Indigenous culture. King Charles III will feature on Australian coins, though.
2 hours ago
Women in low-income communities in India learn how to use energy efficiently. It’s a win-win for the climate as well as the household budget. For many it is the first time they understand the connection between fossil fuels and global warming.
5 hours ago
Scientists in Brazil are hopeful that a campaign to vaccinate endangered monkeys against yellow fever could save them from extinction. The last outbreak of the disease decimated the population of highly vulnerable golden lion tamarin monkeys.
5 hours ago
For months, European leaders have sought a united response to the US Inflation Reduction Act, or IRA. That plan, announced by the White House last year, favours American-made climate technology through subsidies and tax credits. But EU chiefs say the policy discriminates against Washington's closest partner, Europe.