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Tag Archives: SMES

LCCI kicks as CBN retains monetary policy rate at 14%, others unchanged

CBn Emefiele

The Lagos Chamber of Commerce and Industry (LCCI) has frowned at the retention of Monetary Policy Rate at 14 per cent, saying “The retention of the rates is only good for portfolio investors and this economy is tired of such investors because they are not coming to stay but to reap and run away while real sector investors continue to ...

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Why Citibank granted N500m loan for microfinance development in Nigeria

Citibank N

In other to support the development of approximately five thousand micro and small enterprises in the country, Citibank Nigeria has extended a loan of N500 million to Accion Microfinance Bank (Accion MFB). Citibank in a statement said the agreement will also support the Central Bank of Nigeria (CBN) National Financial Inclusion Strategy (NFIS) to reduce the number of excluded population ...

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Enugu State, Keystone Bank lift 100 SMEs to grow economy, jobs

keystone bank

Leading money deposit bank, Keystone Bank has partnered with the Enugu State Government’s Ministry of Commerce and Industry to encourage the activities of over 100 operators of Micro, Small and Medium-scale Enterprises (SMEs) in the state. A statement by the bank said the partnership was in line with the bank’s continuous economic empowerment campaign aimed at raising the bar of ...

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If BoI is shopping for N1tn to assist SMEs, why is DBN established? —BH Analysis

Barely one month after the take off of Development Bank of Nigeria (DBN), indications have emerged that Bank of Industry (BoI) that had hitherto been dull in driving the growth of Small and Medium Enterprises (SMEs) has suddenly woken up. This is evident based on the level of support it has been giving to the sub sector between recently and ...

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GTB lifts over 100 SMEs, says National Food & Drink Festival now, yearly

Segun Agbaje

Guaranty Trust Bank Plc., convener of yearly Food & Drink Festival featuring farmers’ market in order to grow agro-business has assured that considering the gains of the 2017 edition which was well attended, the bank will continue the scheme on a yearly basis. This was made known by the Assistant General Manager and Group Head, Communications and External Affairs of ...

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Our Food /Drink Fair aimed at empowering SMEs, says GTBank

Segun Agbaje

Guaranty Trust Bank has raised the bar in the support of the growth of Small and Medium Enterprises operators in Nigeria with the continuation of the second edition of its food and drinks fair in Lagos today. The event which was unveiled on Friday, started yesterday, Sunday and will end today, Monday. Assistant General Manager and Group Head, Communications and ...

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Inability of FG to harmonise roles of development banks’ causing confusion, leakages

Kemi Adeosun

Investigations by Business Hilights on the activities of three major development banks of the federal government have revealed strong possibilities of roles overlap, redundancy and leakages of funds for development into wrong hands. A report by the leading online publication showed that virtually all the development banks including Bank of Industry (BoI), Bank of Agriculture (BoA), The Infrastructure Bank (TIB) ...

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US Consulate set to train 102 entrepreneurs on business growth management


As part of its contribution to the growth of Small and Medium Enterprises (SMEs), the United States of America Consulate General is set to train and mentor about 102 budding Nigerian entrepreneurs. The US Department is partnering with Field of Skills and Dreams Academy in the training deal. Explaining more during a conference for Emerging Entrepreneurs in Lagos in Lagos, ...

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DBN unveils credit strategy, seeks financial input from European Investment Bank (EIB)

DBN Tony Okpanachi

Managing Director of Development Bank of Nigeria (DBN), Tony Okpanachi, has opened up on the loan delivery strategy the bank will use to grow Small and medium Enterprises (SMEs) within the first two years. This is the new bank which kicked off with N398.45billion is still talking with the European Investment Bank (EIB) for more investment. By design, the bank ...

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FCMB deepens services to SMEs, seals FG’s social intervention scheme in Jigawa

FCMB logo

The ongoing window opened by First City Monument Bank (FCMB) for Small and Medium Enterprises (SMEs) has raised the visibility of the banks as more states are cashing on the scheme for their citizens. Only recently, the bank has signed a Memoranda of Understanding (MoU) with Bizi Mobile Cashless Consultancy on the social intervention feeding programme of the federal government ...

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