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Business

NEC Approves $4.5bn Oil-Backed Loan Refinancing, Unlocks $3bn Fresh Liquidity

Ogochukwu Onwaeze, THEWILL -
The National Economic Council has approved a $4.5bn refinancing of the Project Gazelle oil-backed loan, replacing the 2023 $3.3bn facility. The refinancing will unlock about $3bn in fresh liquidity while reducing the volume of crude pledged as collateral...
Business

CBN Reports First Decline In Consumer Credit In Six Years, Outstanding Falls To ₦3.8trn

Ogochukwu Onwaeze, THEWILL -
Nigeria’s consumer credit fell 19.89 percent to ₦3.78 trillion in 2025, marking the first annual decline since December 2019 as high interest rates curbed household borrowing and reduced the share of consumer loans in private sector credit. Personal...
Business

Banks Increase Lending To Govt By ₦15.66trn In One Year As Private Sector Credit Slows – CBN

Ogochukwu Onwaeze, THEWILL -
June 1 (THEWILL) — Nigerian banks increased their lending to the Federal Government by ₦15.66 trillion over the past year, highlighting a growing preference for public-sector exposure amid weaker credit growth to businesses and households. According to the Central Bank...
Business

FG Cancels $717.7m World Bank Power Loan as Nigeria’s Electricity Crisis Deepens

Ogochukwu Onwaeze, THEWILL -
May 26 (THEWILL) — The Federal Government has cancelled $717.7 million in undisbursed funding under the World Bank-backed Power Sector Recovery Performance-Based Operation (PSRO), dealing a major blow to Nigeria’s efforts to restore stability and financial sustainability in the...
News

Senate Approves Tinubu’s $516m Deutsche Bank Loan For Sokoto–Badagry Superhighway

Felix Ifijeh, THEWILL -
April 29, (THEWILL) — The Senate, on Wednesday, approved President Bola Tinubu’s request to obtain a $516 million syndicated loan facility from Deutsche Bank AG for the construction of critical sections of the proposed Sokoto–Badagry Superhighway. THEWILL reports that the...
Headline

Tinubu Seeks Fresh $110m Emergency Loan From Japan To Tackle Food Crisis

Felix Ifijeh, THEWILL -
June 05, (THEWILL) – President Bola Tinubu has requested an emergency loan of ¥15 billion (approximately $110 million) from the Japan International Cooperation Agency (JICA) to support efforts aimed at boosting food security across Nigeria. The request, which forms part...
News

ICPC Probes Alleged Diverted $3.4b IMF Loan

Felix Ifijeh, THEWILL -
March 04, (THEWILL) –  The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has commenced investigations into the allegations that the $3.4 billion loan obtained from the International Monetary Fund (IMF) is "missing, diverted or unaccounted for".   A civil...
Business

FG to Borrow N1.64trn Via Treasury Bills in Q2 2024

Sam Diala, THEWILL -
March 03, (THEWILL)-  The Central Bank of Nigeria, CBN, has said it would sell Treasury Bills, TBs, worth N1.64 trillion for the second quarter 2024, Q2’24 on behalf of the federal government. This is contained in the apex bank’s Nigeria...
Headline

Ex-President Buhari To Be Docked?

Amos Esele, THEWILL -
March 03, (THEWILL) - It is hard to see the end of the probe launched by the Senate into the payment of over N30 trillion Ways and Means secured from the Central Bank of Nigeria, CBN, by the immediate...
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NewsFelix Ifijeh, THEWILL -

Ikire Killings: Police, Residents Trade Blame As Two Die, Officers Injured In Osun

The violence erupted on Monday at the Naira and Kobo area of Ikire, Irewole Local Government Area, along the Ibadan-Ife Expressway, amid an alleged struggle for control of the motor park. While the Osun State Police Command described the incident as an armed attack on its patrol team by suspected political thugs, residents and political actors in the community have accused the police, particularly the Divisional Police Officer (DPO), of involvement in the shooting.
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