CBN approves single digit lending rate for agric, manufacturing …increases BDC weekly supply to $50,000 Abdulwahab Isa Abuja
R
eprieve is on the way of Nigeria's gasping
economy as the Central Bank of Nigeria (CBN) yesterday committed to
fast-tracking lending of the special intervention fund to agriculture and manufac-
turing sectors at a single digit interest rate. Though the apex bank was silent on exact amount to be lent to these two key sectors, which it described
as very critical to reviving the economy from its comatose state, there are N235 billion CBN intervention funds reserved for manufacturing and
Court remands ex-Diamond Bank manager over N24m fraud
}5
another N750 billion CBN intervention funds for agriculture sector. The banking watchdog, however, refused to divulge which of these funds it hopes to lend to the two CONTINUED ON PAGE 5
Sanctity Of Truth
NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS
Vol. 3 No. 910
Wednesday, August 17, 2016
Petrol mixed with ethanol in circulation soon –NNPC }5
Baru
/newtelegraph /newtelegraph
Buhari: Nigeria is ready for foreign investors }40
Buhari
15-year-old victim of torture gets scholarship }8
@newtelegraph1 www.newtelegraphonline.com @newtelegraph1 www.newtelegraphonline.com
Uzoamaka
Robbers ambush CBN bullion vans, kill two policemen }8
N150
Emefiele
accidental discharge:
IBB: I nearly killed my wife
...says I’m not evil genius
}5 & 10
I had reputation of a playboy Calls for part-time legislature 1
Life in Makoko riverine area 2
1. A woman with her children commuting on a boat at the riverine area of Makoko in Lagos… yesterday.
3
2. A supermarket on water at the area. 3. Children paddling canoes at the area… yesterday.
PHOTOS: SULEIMAN HUSAINI
Port Harcourt shut down for PDP convention
lGovs, BoT members, senators, stakeholders snub Abuja court A dead person is conscious for some minutes –scientists }39
}6 & 7