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Nigeria’s push to strengthen local sugar production gained momentum as the National Sugar Development Council (NSDC) and the Bank of Industry (BOI) launched a ₦10 billion Sugar Project Acceleration Fund (SPAF) to support the development of new sugar projects across the country. The initiative targets greenfield sugar projects and aims to provide both financing and …

The Bank of Industry (BOI) announced on February 9 that it has secured regulatory approval from the Central Bank of Nigeria to operate a Non-Interest Banking (NIB) Window. The announcement, however, has since sparked a wave of reactions from Nigerians. According to BOI, the NIB window will expand access to ethical, asset-backed, interest-free financing designed …

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