By Favour Ifeoluwa & Akinola Ajibade The Chief Executive Officer, Egbin Power Plc, Mr Mohktar Bounour says global transition to cleaner energ and sustainable environment are achievable, as long as there is strong synergy and commitment among stakeholders in the value chain. He spoke during the maiden edition of Asharami Square in Lagos. This is an initiative introduced and implemented by the Sahara Group, in order to amplify discourse on energy sustainability through media advocacy globally. He said: " Having analyzed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and transportation, we are realised that there is need for synergy and renewed commitment among stakeholders". According to him, Egbin Power has unwavering commitment to reduce carbon emissions and promotes sustainable energy sources, stressing that the need to depeening engagement and advocacy among stakeholders in
By Favour & Akinola Ajibade
Indications emerged that Commercial and Merchant have burrowed a total of N12.46 trilion from. Central Bank of Nigeria( CBN) in order to meet up with their fiscal and other needs.
Industry sources said that banks intensified efforts to burrowed more money from CBN in the past eight months, as bad economy bites harder in the country. This period covers between January to August, 2023.
" Aside from August 2023 ending this week, commercial banks and merchant banks borrowed a total of N12.46tn from the CBN during the first eight months of this year".
According to data from CBN, accessed by News Mirror, financial institutions had, in the first eight months of 2022, borrowed N6.96tn from the central bank, representing an increase of 79 percent. Commercial banks and merchant banks access lending from the apex bank using the Standing Lending Facility (SLF) window and cash from the cash with the Standing Deposit Facility window (SDF).
Findings shows that banks during the first eight months of 2023 accessed the SLF window against the backdrop of CBN’s tightening monetary policy stance. The apex banking regulating body has the SLF, a short-term lending window for commercial banks and merchant banks to access liquidity to run their day-to-day business operations.
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