Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain...
The Federal Mortgage Bank of Nigeria (FMBN) has approved N360 million loan for 451 civil servants of Adamawa, an official has said.
Mrs Rahimatu Aliyu, Executive Director, Loans and Mortgage Services of the bank, disclosed this in Yola on Monday at the presentation of cheques to beneficiaries of the FMBN Home Renovation Loan in Adamawa.
Aliyu said that the gesture was in line with one of the cardinal agenda of President Muhammadu Buhari’s administration which was the provision of housing.
She said that the bank had so far disbursed N4.7 billion to 6,000 beneficiaries across the country.
The director said that the bank had funded two estate development projects in the state.
According to her, ”we have so far funded 400 houses in Wauru Jabbe in Jimeta and another 88 houses at Konan Waya on Ngurore-Yola road of the state.
The executive director said that all the projects were aimed at providing affordable housing for Nigerian workers.
Aliyu commended the commitment of the Adamawa Government in processing documents that led to the approval of funds for civil servants in the state.
She noted that the gesture was a clear demonstration of the concern of the administration for the welfare of workers through partnership that would
address their housing needs.
address their housing needs.
The director also expressed the determination of the bank to support the state government to achieve the task of providing affordable housing for its workers.
Presenting the cheques, Gov. Mohammed Bindow directed the Ministry of Lands to provide adequate land for the organised labour for development of housing for workers.
Bindow said that his administration would continue to support any initiative that could enhance welfare of workers in the state.
The governor, while commending the bank for the provision of the loan, said it was first of its kind in the history of the state.
According to him, nobody has given any civil servant, a one-million naira loan to pay back within five years.
He urged civil servants to work hard as their elevation to the rank of permanent secretaries would be considered on merit.
Dr Louis Mandama, Head of Service of the state, commended the bank for such an opportunity.
Mandama said that the gesture was unprecedented as it would impact positively on the living condition of civil servants in the state.
He commended the governor for rehabilitation of roads within the state secretariat and other infrastructure development across the state.
Mandama assured the governor of improved and efficient service delivery on the part of the civil servants in the state.
He urged beneficiaries of the loan to use them judiciously and advised the organised labour and tertiary institutions in the state to take advantage of the window and develop houses for their members.
One of the beneficiaries who spoke to NAN, Mrs Florence Zira of the Ministry of Health, expressed gratitude for the gesture.
Zira, who received a cheque for N1 million, said that she did not expect that her aspiration for having her own house would come to a reality.
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