Nigeria's Skye Bank is in talks with existing and new investors to raise 30 billion naira ($150.75 million) before year-end to bolster its capital base, its chief executive officer said on Monday.
Nigeria Bank in talks to raise 30 bln naira before year-end
Nigeria's 36 states have debts of 658 billion naira ($3.3 billion), and one way out of the credit crunch would be for banks to extend the maturity of loans made to them as much as 20 years, one of the state governors has said.
CEO Timothy Oguntayo said the central bank was restructuring 27 billion naira short-term loans it made to Nigerian state governments to 20-year maturities, paying a 16 percent coupon.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Rivers Reps console tanker blast victims, seek aid from philanthropists
Tinubu, Bill Gates says technology will curb corruption, aid Govt transparency
Comply with EFCC's arrest, avoid disgracing former Benue Governors - Ortom
UniAbuja female final year student declared missing
JAMB releases fresh update on 2024 results
Coalition lauds Speaker for pro-masses forum on State Police
Tinubu secures $600m seaport investment from Danish company
‘Warri Boys in Lagos’ launches ₦1bn appeal fund for multipurpose complex
Tinubu grants approval for design of Sokoto-Badagry Coastal Highway - Umahi
ADVERTISEMENT