Checks done by this paper while interviewing a cross section of patrons of quick loans in Abuja, Lagos and other parts of the country, revealed that the trend became popular since 2018 and gained higher fame in 2020 with the economic crisis created by the COVID-19 pandemic.
Quick loan firms everywhere
There are a handful of them who offer enticing loans with low interest rates with little to no paperwork. While some offer from N20,000 to N5m, there are those whose thresholds reach tens of millions.
Their tenors are between one and 12 months (one year), with some up to a maximum of 24 months (two years).
ICPC drops forgery charges against ex-presidential aide today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
ICPC drops school result forgery charges against ex-presidential aide, Obono-Obla
The anti-corruption agency has dropped the charges of school result falsification and forgery it levelled against the ex-presidential aide in 2019.
The
Independent Corrupt Practices and Other Related Offences Commission (ICPC) has amended the corruption and certificate forgery charges it filed against an ex-presidential aide, Okoi Obono-Obla.
The amendment, coming less than two months after Mr Obono-Obla and his co-defendants were arraigned by the commission, reduced the number of counts from 10 to five.
The amended charges filed at the High Court of the FCT, in Apo, Abuja, on March 4 and seen by PREMIUM TIMES on Sunday, also revealed that the anti-corruption agency has backtracked on its allegations of certificate forgery sensationally levelled against Mr Obono-Obla in 2019.
Ndubuisi Francis in Abuja
The Nigeria Deposit Insurance Corporation (NDIC) has expressed the urgency to fast-track the build-up of depositors’ insurance fund, currently put about N2 trillion.
The corporation said as a deposit insurer, which guarantees payment of deposits in the event of failure of a participating financial institution, shoring up the fund would enable it to pay depositors without recourse to the Central Bank of Nigeria (CBN) or national treasury.
NDIC Managing Director, Mr. Hassan Bello, said in his inaugural address yesterday in Abuja that of recent, there have been calls from the industry for the corporation, in line with the law, to help insured financial institutions that need assistance.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has inaugurated officials of the Nigeria Deposit Insurance Corporation (NDIC). At the inauguration of the new NDIC Managing Director and Chief Executive Officer, Mr Bello Hassan and the Executive Director (Operations) Mr Mohammed Ibrahim, she said the government will revisit the recently amended Banks […]