NIGERIA: Lekoil Scammed in Loan Fraud

Lekoil limited an Oil Exploration and Production company disclosed that the company has been scammed by some individuals who seem to be representing the Qatar Investment Authority (QIA) on loan deal worth $184m. The loan deal which was for proposed drilling and development on the Ogo field Nigeria. The company announced to stop and suspend… Continue reading NIGERIA: Lekoil Scammed in Loan Fraud

NIGERIA: Farmers Urged to Take Advantage of Loan Scheme

The Rice Farmers Association of Nigeria (RIFAN) Nasarawa State Chairman, Alhaji Abbas Ramallan, has encouraged rice farmers to take advantage of the loan support for farm input provided to them by the Anchor Borrowers Programme (ABP) of the Central Bank of Nigeria (CBN). Alhaji Ramallan said that the Anchor Borrowers Programme has commenced in the… Continue reading NIGERIA: Farmers Urged to Take Advantage of Loan Scheme

KENYA: World Bank Warns Kenya Over $85.7B Debt Ceiling

The World Bank has warned Kenya against piling up more debt as the Parliament this week approved to raise borrowing ceiling to Ksh9 trillion ($85.7 billion). A report released by the World Bank warns that Kenya is drifting towards debt distress, as a result of previous expensive loans by the government. Meanwhile, The Kenyan Parliament… Continue reading KENYA: World Bank Warns Kenya Over $85.7B Debt Ceiling

NIGERIA: 24.39trillion debt; IMF Warns Nigeria and Others on Loan Terms with China

Director of International Monetary Fund (IMF); Monetary and Capital Markets Department, Mr Tobias Adrian Photo Credit: Daily News Egypt

The Director of International Monetary Fund (IMF) Monetary and Capital Markets Department, Mr Tobias Adrian, has expressed concerns, on behalf of the monetary organization, over the building financial relations between Nigeria, among other African developing countries and China. This statement was made during his speech at the IMF/World Bank Spring Meetings in the United States.… Continue reading NIGERIA: 24.39trillion debt; IMF Warns Nigeria and Others on Loan Terms with China

Rwanda: Bank of Kigali Reviews Requirement; Made Access To Loan Easy For Salary Earners

Photo Credit: Watch Dog Uganda

The bank of Kigali has decided to be more customer friendly by reviewing its loan terms. In a bid to allow for easy access to loans and capital, the bank has rebranded its credit requirement and terms. To access the revised terms every loan requested cannot exceed 12 times the borrower’s net income while loans… Continue reading Rwanda: Bank of Kigali Reviews Requirement; Made Access To Loan Easy For Salary Earners