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CBN Grants Licence For Development Bank of Nigeria

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The Central Bank of Nigeria has approved a licence for the creation of the Development Bank of Nigeria, the finance ministry said on Wednesday.

The bank aims to support small-scale businesses as the country contends with its first recession in 25 years. It has a commitment from the World Bank for $1.3 billion in seed money.

 

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Akin Akingbala is an international journalist based in Lagos, Nigeria. Aside being happily married, he has interests in music, sports and loves traveling.

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