Funds Archives — City Business News

April 23, 2024 No Responses

FG Unveils N200b Intervention Fund For MSMEs, Manufacturers

The Federal Government has announced the launch of N200 billion Presidential Intervention Fund for Micro, Small and Medium Scale Enterprises (MSMEs) and manufacturers in Nigeria. Minister of Industry, Trade and Investment, Doris Uzoka-Anite, made this announcement on Monday in Abuja....

January 8, 2024 No Responses

CBN Disburses $61m To Settle Foreign Airlines’ Trapped Fund

The Central Bank of Nigeria (CBN) has disbursed 61.64 million dollars to foreign airlines through various Deposit Money Banks (DMBs). According to a statement issued by its Acting Director, Corporate Communications, Mrs Hakama Sidi-Ali on Sunday, the disbursem...

May 3, 2023 No Responses

Reps Suspend $700m Cabotage Fund Disbursement

The House of Representatives has advised the federal government to suspend the planned disbursement of the $700 million in the Cabotage Vessel Finance Fund to Nigerian shippers. The House, in a motion moved by Henry Nwawuba (APGA, Imo) on Tuesday...

February 21, 2023 No Responses

ITF Disburses N24bn As Allowances

The Director-General of the Industrial Training Fund (ITF), Mr Joseph Ari, has disclosed that more than N24 billion has been disbursed by the fund as students and supervisors’ training allowances from 2016 to date. Ari said this on Monday in...

November 9, 2022 No Responses

Agusto Upgrades EDC Nigeria Money Market Fund Rating

Pan- African credit rating agency, Agusto & Co has upgraded the rating of EDC Nigeria Money Market Fund (‘EDC MMF’ or ‘the Fund’) to A(f). Funds rated ‘A(f)’ are deemed to have low to moderate exposure to downside risk, impairment...

November 5, 2022 No Responses

First Bank Reiterates Commitment To Funding Mining Sector

First Bank of Nigeria has reiterated its support to mining sector development and growth as part of efforts to diversify the nation’s economy. First Bank’s Group Head, Corporate Banking, Energy (Upstream and midstream), Temitayo Osundosumu, said this durin...

July 1, 2022 No Responses

Heirs Insurance Sponsors $30,000 Tony Elumelu Storytellers Fund

Africa No Filter, a donor collaborative working to transform stereotypical narratives of Africa has launched the Tony Elumelu Storytellers Fund of $30,000 sponsored by Hiers Insurance and Hiers Life Assurance for journalists and artistes. A statemen...

July 27, 2021 No Responses

Pension Fund Hits N12.66tri

The National Pension Commision (PenCom), on Monday disclosed that pension fund assets had risen to N12.66 trillion as at June 30, 2021, with contributors under the Contributory Pension Scheme (CPS) hitting the 9.38 million mark. Speaking at the 2021 Jour...

April 23, 2021 No Responses

FG Approves Intervention Funds For FRSC

President Muhammadu Buhari has approved intervention funds for the renewal of the Federal Road Safety Corps (FRSC) fleets and formations damaged during the 2020 #EndSARS protests across the country. The Secretary to the Government of the Federation, (SGF...

January 24, 2021 No Responses

Lagos Pledges Prompt Payment Of APPEALS Project Counterpart Funds

The Lagos State Government has pledged to make regular payments of its counterpart funds to all donor and World Bank Assisted Projects. The State Commissioner for Agriculture, Ms. Abisola Olusanya made the pledge on Saturday at the opening ...

November 29, 2020 No Responses

Farmers Allay Fears Of Cassava Shortage, Explains N19.7b Intervention Funds

Some farmers under the aegis of the Cassava Growers Association of Nigeria (NCGA) have allayed fears of an impending shortage of cassava in 2021, due to inability to access government intervention funds. A member of the association, Yemi Williams told...

October 28, 2020 No Responses

Nigeria Receives $26.9b Development Assistance Funds In Six Years

Between 2015 and 2020, Nigeria received not less $26.94 billion Development Assistance funds from International Donors, the Minister of State for Budget and National Planning, Mr Clement Agba has said. Agba made this known on Tuesday in Abuja while briefing...

July 3, 2020 No Responses

Lagos Begins Fund Disbursement To Abule-Egba Pipeline Explosion Victims

The Lagos State Government has commenced fund disbursement to Abule-Egba pipeline explosion victims residing at the Lagos State Emergency Management Agency (LASEMA) Relief Camp, Igando. Dr Olufemi Oke-Osanyintolu, Director- General of LASEMA, made this known i...

June 7, 2020 No Responses

El-Rufai To FG: Transfer Ecological Funds To Environment Ministry

Kaduna State Governor, Nasir El-Rufai on Saturday canvassed for the transfer of the Ecological Fund to Federal Ministry of Environment, which has the expertise and national reach to manage the fund more efficiently. The governor made the call when the...