The federal government (FG) has released N243.8bn (US$797.3m) as the second tranche of the Paris Club Refund to the 36 state governments and the Federal Capital Territory.

Paris Club refund – states get N243.8bn: The federal government (FG) has released N243.8bn (US$797.3m) as the second tranche of the Paris Club Refund to the 36 state governments and the Federal Capital Territory. Of the N243.8bn released, Akwa Ibom, Bayelsa, Delta, Kano and Rivers got N10bn each, making the five states the highest recipients of the refunds for over-deductions on Paris and London Club loans and multilateral debts between 1995 and 2002. With the fresh release of the second tranche of N243.8bn, the amount so far disbursed to states as refund under the Paris Club loan is now N760.2bn.

CBN extends support to Skye Bank by one year: The Central Bank of Nigeria (CBN) has extended its guarantee to Skye Bank Plc for another year, just as it continues to consider the bank’s recapitalisation proposal, the bank revealed Tuesday(Source: Thisday)

UBA cancels Staff Investment Trust Scheme shares: United Bank for Africa (UBA) Plc on Tuesday crossed 2,080,104,955 units of its ordinary shares from the Staff Share Investment Trust Scheme (SSIT) to the Group, at a price of N9.47 per share on the floor of the Nigerian Stock Exchange (NSE). (Source: Thisday)

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