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Specials

SPECIAL REPORT: How inefficiency, lack of transparency flaw CBN’s ₦50bn COVID-19 loan to small businesses

As Nigeria faces a second wave of COVID-19 pandemic, CBN’s COVID-19 loan hangs in the balance for small businesses; Small business owners share mixed feelings over the disbursement of CBN’s ₦50bn COVID-19 credit facility; Lagos, Abuja lead COVID-19 SME beneficiaries’ list as thousands still expect feedback from NIRSAL MfB; NIRSAL MfB declined to respond to FOI request; lawyer says action violated section 7 of the Freedom of Information, warranting litigation.

Specials

Numbers To Ponder: N2.5tn Consumer Credit, 12-Year Jail Term, N697m COVID-19 Donations

For Today’s Numbers to Ponder, Nigeria could raise at least N2.5 trillion revenue by increasing consumer credit in the housing sector to help cushion the effect of COVID-19 crisis on the economy. Dataphyte analysis also estimated that this would provide shelter for about 20 million Nigerians that need decent homes. In Lagos, the state’s health commissioner, Prof Akin Abayomi, says confirmed coronavirus cases in the state may increase to 120,000 between July and August 2020. More funds on the COVID-19 support programme as the office of the Accountant-General of the Federation announced that pandemic dedicated accounts had climbed to N697 million as of April 30, 2020..