The Anambra State governor, Mr. Peter Obi, has been dragged to court over a N5billion investment he made in a brewery sited in Onitsha. Mr. Chudi Offodile, a former member of the House of Representatives, who dragged the governor to court, is alleging that the brewery, Sabmiller Breweries, was set […]
Author: InvestAdvocate
Nigerian banks may record high bad loans
Indications have emerged that Deposit Money Banks may record huge non-performing loans next year. Rating agency, Standard & Poor’s, said on Tuesday that the banks might report increased loan losses amid growth in lending. Bloomberg quoted an analyst at S&P, Mr. Matthew Pimie, as saying, “Banks in Nigeria are expected […]
NDIC to bail out microfinance, mortgage banks
The Nigeria Deposit Insurance Corporation has expressed its readiness to grant financial assistance to deserving Primary Mortgage Institutions and microfinance banks as part of its efforts at repositioning them for better performance in the financial services system. A statement by the corporation on Wednesday quoted the Managing Director, NDIC, Mr. […]