Lagos - The Central Bank of Nigeria (CBN) has released the names of 93 finance companies considered viable and fit to continue business. A breakdown indicates that 72 of them are licensed finance companies, while the remaining 21 companies have been granted Approval in Principle (AIP holders). A statement from the Banking Supervision Department of the Central Bank of Nigeria (CBN), dated July 20, 2000, said "anybody who transacts finance business with any company other than the underlisted, does so at his/her own risk." ...

In a situation of rapidly changing credit and payment risks and with a wealth of finance schemes available to the exporter, it is vital to be well informed about the finance mechanisms obtainable. To this end, a thorough appraisal of non-recourse export finance mechanisms was carried out with special emphasis placed on the needs of exporters and the problems of export credit risks. Extensive research provided detailed information on the facilities available from the financial institutions and on the exact requirements of a wide range of exporters. ...

FINANCE companies and banks that fail to raise capital are likely to be forced to merge, according to a leading stock analyst, who foresees an eventual end to the entire finance business even with successful recapitalisation plans. Supavud Saicheua, executive vice president of Phatra Securities Co, the securities trading arm of Phatra Thanakit Plc, said that even those finance companies which manage to recapitalise are likely to choose to merge in order to win a commercial banking licence. Eventually, finance firms may disappear altogether. ...

FINANCE and banking authorities have decided to allow the 16 ailing finance companies, which have received a combined Bt150 billion in government liquidity support, to re-open their doors to business, with restrictions, on Monday. The firms will then have 60 days in which to submit a final accounting of their assets and liabilities for merger and acquisition purposes. ...

Here is a statement released by the Financial Sector Restructuring Authority (FRA) explaining the business loan sale scheduled for today. I. General Information and Revised Tranche Information General Information: The FRA intends to solicit bids for business loans, consisting of approximately 13,192 loans with an aggregate outstanding principal of about Bt371 billion as of Sept 30. The FRA also intends to solicit bids for the unsolicited bid sale, consisting of around 542 unsolicited bid loans with an aggregate outstanding principal balance of about Bt17 billion as of Sept 30. ...

Two financial regulations that were put in place by the Finance Ministry in March 1990 when Prime Minister Ryutaro Hashimoto was finance minister are expected to be the focus of a heated debate in the next ordinary Diet session, which convenes on Jan. 22, over who should take the administrative responsibility for the failure of seven housing loan companies. The regulations, in the form of a notification, were aimed at restricting loans made by financial institutions to real estate companies, but resulted in an increase in the volume of loans made to housing loan companies by financial institutions affiliated to agricultural cooperatives. ...