News
FCMB Expands Energy Finance Loan to Help Nigerians Access Clean Energy Solutions
First City Monument Bank (FCMB) has increased its energy finance loan, now providing up to N30 million for Nigerian households and small businesses to purchase solar panels, batteries, and inverters.
With a repayment term of up to three years, this initiative aims to ease financial pressures and support businesses’ operational needs.
This loan upgrade aligns with FCMB’s commitment to Nigeria’s 2060 net-zero target, offering affordable clean energy solutions as fuel costs rise.
FCMB’s Managing Director, Yemisi Edun, emphasized, “This loan provides accessible funding for clean energy, offsetting higher fuel costs and aiding sustainable growth.”
George Ogbonnaya, Group Head of Business Banking, added, “Our loan makes clean energy affordable, supporting jobs and environmental sustainability.”
Recognized by the Development Bank of Nigeria for its impact on MSMEs and sustainability, FCMB continues to build a green ecosystem connecting people, capital, and markets across Africa.
In the first nine months of 2024, Nigeria spent $3.57 billion on foreign debt servicing—a 39.7% increase from the $2.56 billion spent during the same period in 2023, according to a Central Bank of Nigeria (CBN) report.
The highest monthly payment in 2024 was recorded in May, at $854.36 million, surpassing 2023’s peak of $641.69 million in July.
January saw a 389% increase compared to the previous year, while May’s payments rose by 286.52%. Although slight decreases occurred in June and July, September’s servicing costs were 17.49% higher than in 2023.
Amid rising debt payments, Nigeria’s total public debt reached N134 trillion in Q2 2024, up 10% from Q1.
The National Youth Service Corps (NYSC), releases confirmed date for the registration of Batch C Stream I, 2024. The registration will commence from the 14th of November, 2024. Although the duration of days or how long the portal will be opened have not yet been stated.
Here is the photo released on their official social media page on Instagram:
The Edo State Government approves of the removal of Executive boards, agencies and parastatals in the state’s public service. This information was confirmed on Wednesday and released in the Chief Press Secretary, Fred Itua, statement.
Itua shared that the state governor has ordered the appointees to turn over their government properties to the public officer.
“It is hereby announced for the information of the general public that the Governor of Edo State, Senator Monday Okpebholo, has approved the dissolution of the executives of all boards, agencies, and parastatals in the Edo State Public Service, with immediate effect.””
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