FEC okays justice sector reform, 500m Euro loan for BOI | The Guardian Nigeria News - Nigeria and World News

  • 📰 GuardianNigeria
  • ⏱ Reading Time:
  • 75 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 33%
  • Publisher: 94%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

“The facility is basically to finance major industrialisation projects and micro-small and medium enterprises’ value chain in Nigeria for up to five years at affordable rates.” Nigeria FEC Loan BOI

To improve the ongoing reform in the country’s judicial sector, the Federal Executive Council has approved what it called as a Justice Sector Policy for Nigeria.

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, made the disclosure yesterday while briefing State House correspondents after the meeting presided over by President Muhammadu Buhari in Abuja.He explained that the policy would ensure speedy administration of justice, quality administration and access to justice.

Malami said FEC also approved a memo seeking to amend the Geneva Convention and re-enact it to grant access to justice by prisoners of war .The minister stated that Nigeria was not at par with the rest of the world, particularly in the area of granting POWs certain rights and privileges. Also, the Minister of State for Finance, Budget and National Planning, Clement Agba, said FEC approved a memo to source a 500 million Euro loan from external creditors for the Bank of Industry to support industrialisation and agriculture in addition to the creation to 1.2 million new jobs.His words: “The credit guarantee is for up to five years and the Federal Government is the guarantor of the loan.

“The facility is basically to finance major industrialisation projects and micro-small and medium enterprises’ value chain in Nigeria for up to five years at affordable rates. These rates are single digit.”Also speaking, the Minister of Power, Saleh Mamman, revealed that his ministry got approval of the president on a memo seeking the release of $2 million as part of Nigeria’s contributions to the West African Power Pool .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FEC okays 500m Euro loan to create 1.2m jobs - The Nation NewspaperThe government is targeting 1.2million jobs with a 500 million Euro loan, to be managed by the Bank of Insdustry.The external creditors’ loan will..
Source: TheNationNews - 🏆 6. / 69 Read more »

FEC approves N200bn loan for Bank of Industry – Daily TrustThe Federal Executive Council (FEC) has approved the issuance of a Sovereign Guarantee of 500 million Euros (N200bn) from the Credit Suisse AG London Branch and a syndicate of international lenders as collateral for 500m Euro facility to the Bank of Industry (BoI). The Minister of State, Budget and National Planning, Clement Agba, who spoke …
Source: Daily Trust - 🏆 13. / 51 Read more »

FEC approves Euro500m credit for Bank of IndustryThe Federal Executive Council on Wednesday approved that 500 million Euro loan be sourced for the Bank of Industry from external creditors...
Source: TheNationNews - 🏆 6. / 69 Read more »