Business
FBN Micro-Finance Bank Disburses N150m Loans
The FBN Microfinance Bank Ltd has so far disbursed N150million as loans to customers since inception in September 2008, its managing Director, Mrs. Pauline Nsa, has said.
Nsa declared in Lagos that the bank’s customers were engaged in various trade and profession.
“Our customers are not only artisans and petty traders, but we also have large food companies, farmers and those from the segments usually ignored by the big banks,” she said.
The FBN Microfinance Bank, according to Nsa, has six branches at Agega, Bariga, Ikotun, Broad Street, Matori and Ikorodu.
“Before the end of 2009, we plan to open six new branches at Oko Oba, Iyama Ipaja and Ajah”, she said.
Nsa said that the FBN Microfinance bank had a branch network target of 10,000 nation wide.
“When we opened our Agege branch, for instance, the whole place was crowded”, she recalled.
Nsa noted that Microfinance banks are set up to assist both the rural and urban poor with access to credit.
She said that such pockets of assistance were expected to improve the national economy through policies that would enhance poverty alleviation.
According to her, microfinance banks have been able to assist about 60 per cent of those adversely affected by the economic meltdown.
“With the global meltdown, many people have been displaced from their regular jobs.
“The microfinance banks have been able to assist in the re-integration of such individuals into the national economy through the promotion of small and medium-scale businesses”, she said.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
