• 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 […]

  • $29.9bn loan request: Don’t mortgage our future – Falana tells Buhari

    $29.9bn loan request: Don’t mortgage our future – Falana tells Buhari

    A Senior Advocate of Nigeria, Femi Falana, said if President Muhammadu Buhari was serious about fighting corruption, he [Buhari] would not mortgage the future of the country by seeking a $29.9bn loan.

    Ever since the economy fell into recession primarily as a result of a significant drop in oil prices, the Federal Government has been looking for ways to get the economy back on track, including its recent application for a $29.9bn loan from external sources.

    Though the Senate rejected the loan […]

  • Buhari’s trip to china is to borrow $2 Billion, attempt to mortgage Nigeria’s future – Fayose raises alarm

    Buhari’s trip to china is to borrow $2 Billion, attempt to mortgage Nigeria’s future – Fayose raises alarm

    Ekiti State Governor, Mr. Ayodele Fayose has said that President Muhammadu Buhari’s scheduled trip to China to borrow $2 billion as part of the N1.84 trillion programmed to be borrowed to finance the 2016 budget is an attempt to mortgage the future of Nigeria and its people.

    Governor Fayose said the 2016 budget was not a reflection of the present economic reality in the country. “By the time they borrow N1.84 trillion to fund their N6.06 billion budget; I wonder how Nigeria […]