600 Rape Cases

The Sokoto State Hisbah Commission has decried the rampant cases of sexual assaults in the state, saying it recorded 606 cases of rape last year. Hisbah Commandant, Dr Adamu Bello Kasarawa, who disclosed this, said the 2019 figure was up from 296 cases recorded in the year 2018. This, he said, represented a 100 percent rise. [DAILY TRUST]

N63bn in South-East

Dangote Group has injected about N63 billion into the economy of the South-East,  after purchasing 3,500 units of articulated vehicles (trucks) assembled in Anambra Motor Manufacturing Company Ltd, ANAMMCO by Transit Support Services Ltd. [VANGUARD]

204% Drop in Investment

The total value of investments in Nigeria reduced by about 204 per cent in 2019 compared to 2018, the Nigeria Investment Promotion Commission (NIPC) has said. The commission said the total value of the investments in 2019 is $29.91 billion compared to $90.89 billion in 2018. [PREMIUM TIMES]

10m Jobs for farmers

The Central Bank of Nigeria (CBN) said that it would create about 10 million jobs in five years through support to small scale farmers. The target will be achieved through strategic financing to farmers of cassava, cocoa, maize, tomatoes, cotton, fisheries, poultry, oil palm among other agricultural primary agricultural produce. [DAILY TRUST]

$1.64bn in 5 wks 

The country’s foreign exchange reserves continued its downward trend as it dropped by $1.64bn from $38.34bn on January 15, 2020, to $36.69bn on February 20, latest figures from the Central Bank of Nigeria has revealed. The apex bank disclosed that the reserves stood at $38.53bn on January 2, 2020. [PUNCH]

N33.7bn Largesse

The girl-child accounts for 60% of 13.2 million out-of-school children in Nigeria. By budget estimates, N10 million can construct a standard block of four classrooms. This means that the N33.7 billion earmarked for Bagudu could be used to construct 3,370 blocks of four classrooms, making it a total of 13,480 classrooms. [THE CABLE]

N151bn e-Passport

Since the FG started issuing electronic passports, it has garnered over N151.45bn, analysis has shown. The e-Passport project had been a contractor-financed arrangement in which the solution provider, ISTL funded the project 100 per cent. The company is paid about 40 per cent of the naira earnings. [PUNCH]

N16trn Credit

According to the CBN, there has been an appreciable growth in the level of the industry gross credit, which increased from N15.567 trillion in May 2019, to N16.397 trillion as at September 2019, following its pronouncements. Consequently, the minimum Loan to Deposit Ratio (LDR) target for all Deposit Money Banks is hereby reviewed upwards from 60 to 65 percent. [LEADERSHIP]

425 banks, 32 years

Since incorporation in 1988, the Nigeria Deposit Insurance Corporation has carried out liquidation activities on 425 financial institutions in the country. A breakdown of the 425 liquidated banks during the period showed that 51 of them were Deposit Money Banks, 325 Microfinance Banks and 51 Primary Mortgage Banks. [PUNCH]

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