• Senate orders CBN to pay equity contribution to mortgage bank

    Senate orders CBN to pay equity contribution to mortgage bank

    According to reports, the Nigerian Senate has asked the Central Bank of Nigeria to immediately pay its equity contribution of 1.5 billion Naira to the management of the Federal Mortgage Bank of Nigeria.

    The Chairman of the Senate Committee on Housing and Urban Development, Senator Barnabas Gemade, gave the order on Wednesday in Abuja during an oversight visit to the Federal Mortgage Bank of Nigeria.

    Senator Gemade said the equity fund would assist the bank in providing affordable housing to Nigerians.

    He also […]

  • FG to withdraw 20 per cent equity in Lagos Free Zone

    FG to withdraw 20 per cent equity in Lagos Free Zone

    The Federal Government has disclosed plans to withdraw its 20 percent equity holding in the Lekki Deep Sea port development, which is aimed at developing Lagos Free trade Zone at Lekki axis of Lagos State.

    The Federal Government holds 20 percent equity in the project, representing, $118 million; the Lagos State Government, holds 18.5 percent, while the Tolaram Group of Singapore has 61.5 percent.

    The Minister of Transport, Mr Rotimi Amaechi said this, yesterday, after a two day conference of the African […]