MOVES-Citi hires Ali to co-head EMEA leveraged finance
LONDON, June 26 (IFR) - Citigroup has hired Toby Ali from Bank of America Merrill Lynch to co-head its leveraged finance business in Europe, Middle East and Africa.
ABUJA, April 5 Nigeria's cabinet has approved $1.3 billion of loans from international lenders to fund the newly licensed Development Bank of Nigeria, the finance minister said on Wednesday.
The bank aims to support small businesses with loans of varying lengths at lower interest rates than are now available as the country contends with its first recession in 25 years.
The finance ministry has previously said that 50 percent of the gross domestic product in Africa's largest economy is made up of small companies.
The loan money is made up of $500 million from the World Bank, $450 million from the African Development Bank, $200 million from German state bank KfW and $130 million from France's state development agency, said Kemi Adeosun, Nigeria's finance minister.
The loan facility is still subject to approval by the National Assembly, she said.
Last week, the central bank approved the development bank's licence. (Reporting by Felix Onuah; Writing by Paul Carsten; Editing by Larry King)
* Hartford Financial-agreement with Prudential Financial to buy group annuity contract and transfer $1.6 billion in U.S. Qualified pension plan liabilities
LONDON, June 26 Citi hired Toby Ali as co-head of leveraged finance for Europe Middle East and Africa (EMEA) from Bank of America Merrill Lynch where he held the same role, the bank said in a staff memo on Monday.