Tuesday, 6th December 2022
<To guardian.ng
Search

Interest rate on loan ‘killing’ Nigerian businesses – Senate

The Central Bank of Nigeria (CBN) and commercial banks in the country came under fire yesterday over disparities in deposit and lending rates obtainable in their offices. The upper legislative chamber lamented that interest rate on loans operated by commercial banks and approved by the CBN remained one of the highest in the world. Angered by the development, the Senate mandated its Committee on Financial Institutions to investigate and report back its findings to enable it take a definite position on the matter.

Related

20 May 2021
The Nigerian senate request fresh loan from President Muhammadu Buhari for the approval of N2.3 trillion as external Loan.
3 Jun 2021
The obstruction of the bill in a show of party loyalty to former President Donald Trump sparked outrage from Democrats.
1 Jun 2021
Here are a few reasons to pick up a copy of The Guardian on Wednesday. Find these stories and much more when you grab a copy of The Guardian on Wednesday.
2 Jun 2021
Ondo state governor, Rotimi Akeredolu has called for the scrapping of senate to cut cost of governance.
24 Jun 2021
The GOP has once again used its minority rights in the Senate to block key Democrat legislation. Democrats have pledged to keep trying to pass voting rights reforms.
8 Jul 2021
The Senate is screening President Muhammadu Buhari's nominees for appointment as National Commissioners for the Independent National Electoral Commission.
9 Jul 2021
Here are a few reasons to pick up a copy of The Guardian on Friday. Find these stories and much more when you grab a copy of The Guardian on Friday.⁣⁣⁣⁣⁣ ⁣
13 Jul 2021
Here are a few reasons to pick up a copy of The Guardian on Wednesday. Find these stories and much more when you grab a copy of The Guardian on Wednesday.⁣⁣
26 Sep 2021
A controversial broadcast reform bill was rejected by the Polish Senate by a 53-37 margin. The bill now returns to the lower house of parliament where it will test the ruling party.
14 Sep 2021
Here are a few reasons to pick up a copy of The Guardian on Wednesday. Find these stories and much more when you grab a copy of The Guardian on Wednesday.
30 Oct 2021
A Brazilian Senate committee has backed criminal charges against President Jair Bolsonaro over his handling of the Covid-19 pandemic. A 1,200-page report accuses the president of downplaying the disease and questioning the safety of vaccines, exposing the public to mass infections. However, the Senate committee doesn't have the power to bring charges, and it's unlikely that the attorney general or lower house speaker will open criminal proceedings, since they are both Bolsonaro allies. We tell you more.
29 Oct 2021
The law would have made homophobia a crime that is treated similarly to racism. Right-wing lawmakers were particularly opposed to the proposal.