AfDB’s financial sector portfolio in Nigeria valued at $1.32 bn — D-G
The African Development Bank (AfDB) Group, says it has a robust portfolio in the financial sector of Nigeria with a total commitment valued at 1.32 billion dollars.
Mr Lamin Barrow, the Director-General (D-G)ImageTitleSummaryCategoriesAuthorDatecategories_hfilter, Nigeria Country Department of AfDB, said this in Abuja on Monday at the signing of a 460,000 dollars agreement with the Securities and Exchange Commission (SEC).
Barrow said the figure represented 30 per cent of the Bank’s portfolio.
He said the bulk of the interventions were in the form of lines of credit to financial institutions which included a 10 million dollar financing package for Infrastructure Credit Guarantee Company Limited (infraCredit).
Barrow said the move was geared toward supporting the development of the corporate bond market.
The director-general said the support for the bond market was particularly for infrastructure development and to mitigate currency risks.
According to him, the Bank is also supporting Nigeria’s Infrastructure Debt Fund through a 10 million dollar facility that provides long-term local currency debt financing.
”The objective is to crowd-in local pension funds and other institutional investors for infrastructure development in Nigeria.
”The pandemic has reinforced global risk aversion, prompting international investors to move their portfolios into safer assets and havens.
”It is our desire to see growth of the equity market well beyond the current N28.16 trillion.
”That is why the AfDB Group is supporting initiatives to integrate capital markets in Africa and innovative financial instruments.
”This has become even more urgent with the African Continental Free Trade Area (AfCFTA) being operational.”
The News Agency of Nigeria reports that AfDB and SEC signed the agreement to support the acquisition and deployment of automated surveillance system in the capital market.
The automated market surveillance system would enhance the SEC’s role in investor protection and ensure a transparent, fair and orderly market to reduce systemic risks.
NewsSourceCredit: NAN
AfDB’s financial sector portfolio in Nigeria valued at $1.32 bn — D-G NNN NNN – Nigeria News, Latest News Updates Today
DON'T FORGET TO SHOW LOVE BY SHARING
Fresh guy
- Jul 30, 2022 at 3:56 pmOk
Sammy123
- Jul 28, 2022 at 4:21 pmk
Augustine88
- Jul 24, 2022 at 3:10 amYea
Younglord
- Jul 20, 2022 at 12:28 amOk
Oke3353
- Jul 19, 2022 at 5:16 pmOkay
Faithel7
- Jul 19, 2022 at 2:01 pmOk
Brizhil
- Jul 19, 2022 at 1:44 pmSeem
Ndoma
- Jul 19, 2022 at 9:39 amOk
Victor chidera
- Jul 19, 2022 at 7:30 amOk
Stevekech
- Jul 19, 2022 at 6:39 amOK
Anaebo chinenye vivian
- Jul 19, 2022 at 6:06 amHggsgsg
Oladeji20
- Jul 19, 2022 at 5:22 amOk
Jessi
- Jul 19, 2022 at 3:57 amOkay
Faithel
- Jul 19, 2022 at 3:31 amOi
Timany
- Jul 19, 2022 at 1:59 amOk
Rossydks
- Jul 19, 2022 at 1:57 amSure
Krenzy
- Jul 19, 2022 at 12:15 amOk
isaiah163
- Jul 18, 2022 at 11:44 pmOkay
Eazzy.2
- Jul 18, 2022 at 11:33 pmOk
pearl2017
- Jul 18, 2022 at 11:11 pmokay
Teedee
- Jul 18, 2022 at 11:09 pmHmmm
Abejeshi
- Jul 18, 2022 at 11:06 pmOkay
Patience24
- Jul 18, 2022 at 10:38 pmSeen
RaphNora
- Jul 18, 2022 at 10:37 pmOkay
Patience24
- Jul 18, 2022 at 10:30 pmAlright
Radolly
- Jul 18, 2022 at 10:28 pmOK
You must be logged in to post a comment.
« | »
Looking for something? Search below
Home | Recent Posts | Pages
Useful Links
Information
Connect With Us
Copyright © 2021 - www.trendflow.com.ng