September 24, 2017

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BlackBerry putting itself up for sale -

Wednesday, August 14, 2013

FERMA: A convergence of intent, engagement & perception -

Sunday, August 11, 2013

Nigeria Hits CNN’s List of World’s 12 sexiest accents…. -

Wednesday, August 7, 2013

N452t infrastructure funds from capital market coming -

Tuesday, August 6, 2013

Getting the right staff for your business -

Tuesday, August 6, 2013

Nigeria, others to re-evaluate Trans-Saharan gas project -

Monday, August 5, 2013

How Nigerians use social media -

Friday, August 2, 2013

NSIA to manage N3.4tr pension funds -

Friday, August 2, 2013

GOOGLE UNVEILS MOTO X SMARTPHONE… -

Friday, August 2, 2013

Nigerian Troops Return from Mali, Storm Borno -

Thursday, August 1, 2013

Our role in the $1.09b Malabu Oil mess, by Shell -

Wednesday, July 31, 2013

FG Can’t License Hotels, Hospitality Operators, Says Fashola -

Tuesday, July 30, 2013

Why FG Must Urgently Invest in Efficient Rail System -

Monday, July 29, 2013

Lagos community begins energy generation from waste -

Monday, July 29, 2013

FG to privatise BoI, BoA in 2014 -

Monday, July 29, 2013

Cassava takes pride place in Nigeria’s agro-economy -

Monday, July 29, 2013

Future of Africa in food production depends on training, emerging technologies —Kabba college provost -

Friday, July 26, 2013

Will this fresh initiative against cyber crime work? -

Friday, July 26, 2013

Investors prefer Southwest, says LCCI -

Friday, July 26, 2013

Fed Govt stops project variation beyond 15% of initial cost -

Thursday, July 25, 2013

FG to privatise BoI, BoA in 2014

FG to privatise BoI, BoA in 2014... NAIJA INTEL

Plans are underway by the Federal Government to private both the Bank of Industry (BoI) and the Bank of Agriculture (BoA) next year.

While BOI is to be sold to new core-investors by mid 2014, majority ownership of BOA is slated for transfer by next year end, according to Director General of the Bureau of Public Enterprise (BPE), Benjamin Dikki in an interview in Abuja.

Ahead of this timelines, according to Dikki, the bureau is “working with the Coordinating Minister of the economy to structure the development financing institutions, and right now, we have a memo before the National Council on Privitisation to approve for us to commence partial privitisation on BOI and BOA. Subsequently also, we are working on the Minister of Finance to establish a mega development finance institution long those of Brazil and Germany that will be properly capitalized, and be able to access real time financing both locally and internationally.

“What has been discovered is that institutions presently are able to offer loans for between seven to 10 years which is not good for development. We want institutions where people can access long term funding and at reasonable interest rate

“We will look at these issues and compare them with what is obtainable globally so that we can also get the best and also protect our people,” he explained further.

Continuing, Dikki said the privatisation plans are part of efforts by the President Goodluck Jonathan administration to give impetus to the revitalisation of development financing in Nigeria.

nigeria-flag... FG to privatise BoI, BoA in 2014... NAIJA INTEL

nigeria-flag… FG to privatise BoI, BoA in 2014… NAIJA INTEL

He said the process seeks to among others inject intervention funds into the two Development Finance Institutions  (DFIs) to revatilise their operations, proceed with the partial Privatisation of BOA and BOI and set up a wholesale, multi sector DFI that would source local and international credits and on-lend to smaller DFIs and  commercial banks in Nigeria.

According to him, “going forward the BPE will seek NCP’s approval to commence the engagement of diagnostic review advisers for BOA, Privatisation advisers for BOI to commence the Privatisation transactions and transaction advisers for BOA once restructuring exercise is concluded and approved.

SOURCE

IMAGS: www.leadership.ng

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