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CBN lJisburses Nl98bn Comm~era~'al~~'~F~un~d~as~a~tJ~~ Ob innaChima as at

July 2012 is N7.534 billion in 0116 "'1'""" futili.... The Central Bank 0: Nigeria _ (CBN) has said it :>aid out These slate governments ilCa total of Nl9!1I7) billion a:ssm furds for ~ to to beneficiari:!!' under its farmers" wUons, cooperatives Commercial A~riculture and fin.:U'K:ing of other areas Credit Scheme (CACS) as of agricuJtunil interventions at July 2012. The b,lIance of in their various States. During agric credit SdU.!Dll, which the oeriod Wlder revie\v Ouly commenced in 20C19, stoo::l 2012). the sum o f N2..589 bUat N1.826 billion 3! At July. lion was released to six banks The bankin!. !l'ctur watth· w ith respect to seven CACS dog stated this in a report rojeds bJ:inging total releases Iiij>J!;ec\: ",o\cti\ibEsof the NXO C y the CBN" sUice inception bilOOn CcrnIrorill A 'cJIture in 2009 to N198.173 billion. Credit Scheme (CAC~ for the " From inception to date month 01 JWy 00 12.' ~ nineteen banks namely Access on its websIte ) est.!ll iay. Bank PIc. Fidelity Bank. Fust It te\'eaIaJ thai sU o:' inrep- Bank of N~~~Guaranty lion 258 benefidar,e, made Trust Bank. PIc. Skye up of 228 priV3-r FK'motl'lS Bank, Stanbic IBTC. Union and 30 stale govcminents had Bank of Nigeria, Keystone benefited from the IUlld. The Bank, Unite<!. Bank for AIstate gmunfl"e:1l5 w<n able to rica, Unity Bank Pic, Zenith access th! SWJl cf NJ8 billion. Bank PIc. Diamond Bank PIc. Aa:OIding to Ihe a pt. :oI: bank. Sterling. Citibank, Wema, during the pE'riod, 110 state ~lainstreet Bank. &tterprise government ao.J!:«Yj t) e fund. Bank and R::MB participated The number of slale J.,'OVl'f1\- under the scheme. ~ ments thai participa:e I in the The report said that the scheme in Jul}" wa.~~. nwnber of pro;ects financed under the CACS by value II added: blbnce of

chain s howed th..ll Qui of the 228 CACS private.sedor ~ pnjoct;; prod.accounted for 48.64 per cent and d ominated the activities hmded while processing ac-

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counted for 38.64 per cenl "These activities wert! c:fis.. IanUy followed by mad:eting.

storage and input supplies which registered 7:0 pe!"CBlt. 5 per cent and 0.45 per cent respectively. With regards to the value of funds released, processing accounted for 51.7 per cent f6Uowed by procluction which accounted for 33.8 per cent of the value of enterprises flJl.1JlCl'd. These

were followed by marketing. storage and input s upplies

whicfi registered 9.6 per cent 183 per CI.'Ilt and 1.1 per cent." it added 1h:! CACS IS a 7-year tenured interventioo thai was hrne:l. ItvtJuWI a 3-year N200 billion K;Nbond raised by the Debt Management OffICI! (DMO). Under the Scheme, rebates on the interest componen! of the loans and the administrative expenses are fully bome by the CBN.

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GTBank Declares 25kobo Interim Dividend Godd,E,ene

CoounentingontheperforfBI\I Capital

Guaranty Trust Bank Me has boasted the liquidit-( XJSitiort of its shi'll1!holdelS a~ dtrlared an interim d ividend of 25 kobo for the hill y~ar (HI) ended JWIl.' 30,201:'" The bank has therefor\!,


~ its "'''''''''' poIky of rewudin8 shareholders twice · in a year through. interim and final di, idends Arrording 10 the audIted H I ",,",I. Glllonk "",_<I groo;s eamin of :-t.l6l"oillion, up from ~1W.76 l>illiun in the conesponcling rerild of 2011 prolit befOf\! lax !Ole by 62 per cent from NJ::.~ I billion 10 N53.6 billiClr , wli le profit after la,:( grew by 6-1 ~ emt from N27.65 billi{ n to 45.6 billion.

IllilrlE. analysts at

Umited said they did not

some margin." they said. Market operators said they surprised by the

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with a simiJar1y impressive




'-"J"d tr.Uquidity '<h"""'!l impressive HI result of the Conct!lT\S to overshaclow this bank, hoving"""'" tr. y"" solid set of earnings.

wYear-to-d:!le. GT Bank shares have gained 26 per cent outperIorming the sector by 16.7 per cent, and tr. Nigerian Sled< &<hang. (NSE) All Share Index by lfh P'" renl c:a..n... aJ1l profh before tax forocast io; runenUy around N86 billion. \-Ok wruk! expect !his figure to move higher on the Duck of the result:!. GT Bank's Hi Profit after tax implies an annualised return on average oqu;ty (ROAE) 01 "&J>IIy """ 35 per CI.'Jll Mm.sun:!d in these terms, GTBank remains the bank to beat in the soctor by

performance for the first quarter ended March 31, al12 The bank had ended its 01 with a profit after tax rose N19.312 billion, up from N14.328 billion in the conespcnding period of 2Dll. Managing Director of C!'Bank; Mi. Scgun Ag"';'.



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recently noted that the bank for the last U\reI.' years and inBded to maantain this.tnn:I in the future. "Out successes overtheyearscanprimariJy be attributed 10 teamwork. discipline and passim. he sUd.

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Hour l\1iThi to Spend N9.7billion on Expansion Oblnn" (hlma

ROUT Mills of Ng~ria Pic yesterday disdOS?l1 p'lans to spend about N<J: ' billion in the ~ a! i milling plants acruss the lomtry.

Group Marlilgin:: ·Jirector, Rour rvWIs, Mr. EIT manuel

the millin~ plants \\-UUId soon

quality laboratory equipment.

lvlin would have a milling capacity ol2,7.l) metric tmnes per da~~ while the capacity of the company's plants across the nation would inaease to 18.soo metric (orUles of flour

Mills boss added "Our mill- l ~ ers and quality assurance Col per.;onneI continue to aHerd I [ 1Dq courses in the USA. Europe I ~~o.y ard ~th Africa for improved I L6O"&:skills and exposure to mcrlem 6090 0".

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Meeting media bHing in la~

. glO tmr. tl1l' move would sip.llIIU\, illlpact 01\ thecmJ?llly'S IltiIfDl£ capacity. He pciinnid (). lI: ttul the W:st

added thai the project would consolidate the company's d:ilion as second largest our miller in the worrd. According to him, the companv recently made further


mmmitmenllOproductquality assurance, we have com-



'RosabonHarps on Savin~ Culture among Nigerians In a bid to cro ,un _g ~ saving

1M .lJuru ry, f?remast Fmanci.t! Inh!r nediax)

culture in

ani Equipnell. LmjJl$ Finns.

Rosabon Fmanc:ia l 'fiVices Limited, hi!.! Ultr)l. l uced it new prodLL11"~ ~ [b:;abm Wm-13ig-~lontflly 1"1\-estment Note (R'NIN).

The.rompany In i\ ~atmlent

yesterday said R;\ IN is a

unique fund management pnxlUd tin.i(ed to a monthly prolllO. Managing Director of ROS.lbon. ~ lr. Chukwuma O::h:roogor. said the campaign was aimed at encouraging a health), sa\ ings culture in NiStrit. .. ~ to him.. '1t is to:!. enough that we are more of

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accreditation 10 the qua lity standairllSQ 9001 :2008. This will help set a benchmark to ~1ill.~ tr. dl(Ju!odouroi uwt5bnents in high·tech measure our. .perlormano..c. • _ _ _ _ •_ __ _ _ _..;:...._ _ _ ___ :..____

a consumer nation. NiJ;erians need to be enooura~ to I?ut

money aside, 10 build capital



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that they can use 10 hmd their businesses.

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Even though the pnxluct is not a savings al.'COunt but more of a funds placement product, RWi N is our own way of incentivising a sa'·ings culture in thl! country."








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THISDAY, 31 AUGUST, 2012  
THISDAY, 31 AUGUST, 2012  

CBN disburses Nl98bn Commercial Fund as at July