Economy
Survey Reveals Increase in Credit in Q3

The third quarter (Q3) 2016 “Credit Conditions Survey Report” has revealed increase in secured and unsecured credit availability to households, small businesses and corporate entities, compared with the previous quarter.
The report by the Central Bank of Nigeria (CBN) also showed that spread on overall secured and unsecured lending to households widened in Q3, 2016 and was expected to remain widened in the next quarter.
It stated that lenders also reported that households’ demand for house purchase lending, unsecured credit card lending and unsecured overdraft/personal loans all increased in Q3, 2016 and were expected to increase in the next quarter.
According to the report, the demand for corporate lending in Q3, 2016 increased across all firm sizes and was expected to increase further in the next quarter. Corporate loans performance to all businesses deteriorated in Q3, 2016.
In addition, the report showed that in Q3 2016 relative to the previous quarter, lenders reported an increase in the availability of secured credit to households.
“Lenders noted that brighter economic outlook and changing appetite for risk were major factors behind the increase. The availability of secured credit was however expected to decrease in the next quarter with the banks’ “market share objectives” as the major contributory factor.
“Due to lenders stance on tightening the credit scoring criteria in Q3 2016 there was a decline in the proportion of loan applications approved in the quarter. Though lenders expect the credit scoring criteria to remain tightened in the next quarter, they expect the proportion of households’ loan applications approved in Q4 2016 to increase.
“Maximum Loan to Value (LTV) ratios remained flat in the current and next quarter.
Lenders expressed their unwillingness to lend at low LTV ratios (75% or less) in both the current and next quarters. Similarly, they expressed unwillingness to lend at high LTV (more than 75%) in the current quarter and the next quarter (Question 10). The average credit quality on new secured lending improved in Q3 2016 and was expected to improve further in Q4 2016.
“Lenders reported that the overall spreads on secured lending rates to households relative to MPR widened in Q3 2016 and was expected to further widen in the next quarter. Widened spreads were reported for prime, buy to let and other lending in Q3 2016 and were expected to widen further in the next quarter,” it added.
Households demand for lending for house purchase increased in Q3 2016 and was expected to further increase in the next quarter. Of the total demand, increase in households demand for prime, buy to let and other lending were reported, but were expected to decrease in the next quarter except demand for prime lending.
Households demand for consumer loans, mortgage/remortgaging and small businesses rose in Q3 2016 and were expected to rise further in Q4 2016. Secured loan performance, as measured by default rates worsened in Q3 2016 and but was expected to improve in Q4 2016. Loss given default deteriorated in the current quarter but was expected to improve in the next quarter.
Also, the availability of unsecured credit provided to households rose in the current quarter and was expected to further rise in the next quarter. Lenders reported increased appetite for risk and banks’ market share objectives as factors that contributed to the increase in Q3 2016.
Due to Lenders’ resolve to tighten the credit scoring criteria for total unsecured loan applications in Q3 2016, the proportion of approved total loan applications for households decreased in the quarter. Lenders expect to loosen the credit scoring criteria in the next quarter, but are still of the opinion that the total loans applications to be approved in Q4 2016 will further decrease.
Similarly, lenders tightened the credit scoring criteria for granting credit card loan applications and expect the proportion of approved credit card applications to decrease in Q4 2016.
Lenders resolve to tighten the credit scoring criteria in granting overdraft/personal loan applications in the current quarter decreased the proportion of approved household’s overdraft/personal loan applications in the current quarter.
Lenders reported that spreads on credit card lending widened in Q3 2016 and was expected to widen further in the next quarter. Similarly, it revealed that spreads on unsecured overdrafts/personal loans on approved new loan applications widened in the current quarter and was expected to widen further in the next quarter.
http://www.thisdaylive.com/index.php/2016/09/28/survey-reveals-increase-in-credit-in-third-quarter/
Economy
SHR Miner offers free cloud mining services for BTC, XRP, and DOGE holders, with potential earnings of up to $6,770 or even more
As cryptocurrencies gain increasing popularity worldwide, more and more investors are seeking ways to generate a steady stream of passive income without the need for expensive hardware or specialized skills.
SHRMiner’s new free mining service allows holders of BTC, XRP, DOGE, LTC, and DOGE to easily earn passive income without expensive equipment or specialized technical knowledge.
In the rapidly evolving world of cryptocurrency, simplicity and high returns are paramount. For those seeking an accessible, entry-level investment method to generate a steady income with minimal effort, cloud mining undoubtedly presents a highly attractive option. This article will delve into the concept of cloud mining, using the leading brand SHRMiner as a case study to demonstrate how it can help you achieve daily earnings of $7,770—or even more.
The Appeal of Cloud Mining
Due to its ease of use and convenience, cloud mining has long been highly favored by cryptocurrency enthusiasts. Unlike traditional mining, it requires no expensive hardware, specialized technical expertise, or constant monitoring. Cloud mining simplifies the process, enabling anyone—regardless of their level of experience—to participate in the cryptocurrency revolution. Instead of investing in costly mining equipment and managing complex systems, users simply lease mining algorithms from remote data centers to earn a share of the profits.
Recently, the UK-based cloud mining platform SHRMiner officially launched a new “free cloud mining service.” Designed specifically for holders of mainstream cryptocurrencies—such as BTC, XRP, DOGE, LTC, and ETH—this service offers users a new opportunity to participate in cryptocurrency mining with no barriers to entry.
Meanwhile, SHRMiner has also launched a new mobile application, enabling users to manage their mining activities anytime, anywhere—effectively ushering in the “era of mobile mining.”
SHRMiner: The Perfect Blend of Laziness and Profit
SHRMiner takes the simplicity of cloud mining to the extreme, making it the ideal choice for novice users. The platform’s user-friendly interface ensures that even newcomers to the world of cryptocurrency can get started with ease. For SHRMiner, simplicity is not a weakness, but rather the path to success. As a pioneer in cloud mining services, SHRMiner operates over 150 mining farms worldwide—equipped with more than 600,000 mining devices powered entirely by modern renewable energy sources—and has earned the trust and support of over 5 million users thanks to its stable returns and robust security.
How can SHRMiner serve as a source of passive income?
The entire process takes just three simple steps to start earning income:
- Register an Account
By visiting the SHRMiner official website, users can register a free account in less than 2 minutes and receive a $15 sign-up bonus. This bonus helps users quickly experience the platform’s services and earn $0.60 per day from the free trial contract.
- Select a Cloud Mining Plan
Choose a cloud mining plan that aligns with your needs and budget. The platform offers a wide range of flexible plans—ranging from $100 to $200,000—to accommodate the diverse investment goals of different users.
- Start Earning
Upon purchasing a contract, earnings are automatically settled within 24 hours, requiring no additional management or manual intervention. Users may withdraw their earnings to their cryptocurrency wallet addresses at any time to suit their needs, or they may choose to reinvest their profits to capitalize on the power of compound interest.
The primary advantage of this model lies in its significant lowering of the barrier to entry. Users need not research specific mining hardware models or hash rate configurations, nor do they need to set up their own system environments; they simply need to register an account, deposit assets, and select a mining plan to begin generating returns.
SHRMiner Platform Advantages:
⦁ Supports daily automatic settlements.
⦁ Requires no additional electricity or maintenance costs.
⦁ Utilizes advanced ASIC mining hardware, powered by renewable energy sources including hydroelectric, wind, and solar power.
⦁ Supports multi-currency mining: Earn major cryptocurrencies such as BTC, XRP, ETH, DOGE, USDC, USDT, SOL, LTC, BCH, and more.
⦁ Features SSL encryption and DDoS protection, along with a real-time earnings dashboard for convenient monitoring of mining performance.
⦁ 100% Remote Access: Enjoy full access without the need for physical hardware via the SHRMiner app or web browser, complemented by 24/7 online technical support.
⦁ Affiliate Program: Refer friends to earn commission rewards of up to 4.5%, with the opportunity to receive additional bonuses of up to 30,000.
Examples of Common Contracts:
| Contract Name | Price | Profit | Days | Principal+TotalReturn |
| NewUserExperienceAgreement | $100 | $4 | 2 | $100+$8 |
| Bitdeer Sealminer A2 Pro | $500 | $6.25 | 5 | $500.00 + $31.25 |
| Litecoin Miner L9 | $1000.00 | $13.00 | 10 | $1000.00 + $130 |
| Bitcoin Miner S21 XP Imm | $5000.00 | $70.00 | 25 | $5000.00 + $1750 |
| Bitcoin Miner S21e XP Hyd | $10000.00 | $150.00 | 35 | $10000.00 + $5250 |
| ANTSPACE HW5 | $50000.00 | $900.00 | 45 | $50000.00 + $40500 |
After purchasing a contract, earnings will be automatically credited to your account within 24 hours. (Hash rate, investment amount, duration, and earnings vary for different contracts. For more contract information, please visit the official SHRMiner website or click on “Contract Details” to view.)
Unimaginable money-making opportunities
What sets SHRMiner apart is its extraordinary daily passive income potential; users have the opportunity to earn $8,900—or even more—every day, thereby realizing their dream of getting rich online. Imagine generating substantial income without the need for constant effort or complex setups—that is precisely what SHRMiner offers.
Safety and Sustainability
In the mining sector, trust and security are paramount; SHRMiner fully recognizes this and places user safety at the forefront. Committed to transparency and legitimacy, SHRMiner ensures that your investments are protected, allowing you to focus on profitability. All mining facilities utilize clean energy, making our cloud mining operations carbon-neutral. By harnessing renewable energy, we safeguard the environment from pollution while delivering superior energy efficiency.
in short
If you are looking for ways to generate passive income, cloud mining is an excellent choice. When utilized effectively, these opportunities can help you effortlessly accumulate cryptocurrency wealth on “autopilot,” requiring only a minimal time commitment. At the very least, they should be far less time-consuming than any form of active trading. Passive income is the ultimate goal for every investor and trader, and with SHRMiner, maximizing your passive income potential has never been easier.
If you would like to learn more about SHRMiner, please visit its official website: https://shrminer.com
Economy
SEC Kicks Off Full e-Registration for Capital Market Services
By Aduragbemi Omiyale
The implementation of a fully electronic registration process for capital market operators has been commenced by the Securities and Exchange Commission (SEC).
This is deployed through the regulator’s ePortal. It allows Capital Market Operators (CMOs) to complete designated registration processes online, covering application submission, regulatory review, approvals and communication of decisions, thereby eliminating manual processing for the services included in the current phase.
It was stated that the implementation is being carried out in phases to ensure a smooth transition for market participants while maintaining the stability and integrity of regulatory processes.
This system enables designated regulatory services to be completed entirely online as part of efforts to modernise Nigeria’s capital market and improve regulatory efficiency.
The current phase is limited to post-registration services for existing Capital Market Operators, as applications for the registration of new entrants into the Nigerian capital market are not yet covered.
According to the SEC, the commencement of electronic processing for new registration applications will be announced at a later date.
The commission stated that the commencement of this policy marks another milestone in its digital transformation agenda and its drive to build a technology-driven regulatory environment.
This initiative is expected to simplify regulatory interactions, reduce administrative bottlenecks, shorten processing timelines and provide applicants with greater visibility into the status of their applications.
It will also improve operational efficiency while strengthening regulatory oversight through standardised workflows, electronic documentation, secure digital record management and enhanced audit trails.
The SEC explained that the e-registration platform aligns with its strategic objective of leveraging technology to improve market efficiency, enhance the ease of doing business and deliver better services to stakeholders.
According to the regulator, beyond improving efficiency, the platform will enhance the integrity of regulatory processes by reducing delays associated with paper-based documentation and improving the quality of regulatory data for decision-making.
It noted that the digital platform would also provide a stronger foundation for regulatory analytics and future innovations aimed at improving oversight of Nigeria’s capital market.
“The new platform represents a major step towards creating a seamless digital regulatory ecosystem that enhances operational efficiency while strengthening regulatory effectiveness,” the agency said in a statement on Wednesday, urging operators to familiarise themselves with the new platform and comply with implementation timelines to ensure a seamless transition to the electronic registration process.
Economy
Dangote Refinery Begins SEC Approval Process for Landmark IPO
By Adedapo Adesanya
Dangote Petroleum Refinery has formally approached Nigeria’s Securities and Exchange Commission (SEC) to begin the regulatory process for its planned initial public offering (IPO), paving the way for what could become Africa’s largest stock market listing, according to a report by BusinessDay.
The newspaper reported that the refinery’s advisers are already working with company officials and the SEC to process the application, with the regulator expressing confidence that there are no obstacles likely to delay the transaction.
Speaking in an interview with BusinessDay, the Director-General of the SEC, Mr Emomotimi Agama, said the commission stands ready to address any issues that may arise during the approval process.
“If any issue arises, SEC will resolve it. That is why the SEC exists,” Mr Agama was quoted to have said.
Although no official listing date has been approved, the refinery is still targeting a September debut on the Nigerian Exchange (NGX) Limited. There are also plans for a multi-African bourse listing.
The planned IPO is expected to rank among the largest equity offerings ever seen in Africa and would mark one of the most significant additions to Nigeria’s capital market in recent years.
The listing also aligns with ongoing efforts by regulators to encourage major privately owned companies to go public and deepen the country’s equity market.
The application comes after several months of preparatory engagements involving Dangote Refinery, its advisers and the SEC.
Mr Agama noted that the company’s early engagement with the regulator has helped streamline the approval process, adding that the commission intends to encourage similar collaboration for future listings.
Meanwhile, the SEC has concluded investigations into the unauthorised promotion of the refinery’s proposed IPO by some market participants before regulatory approval had been obtained.
According to Mr Agama, sanctions are being imposed on those found to have breached the rules, although he declined to identify the affected entities.
This comes after the company raised about $2.5 billion has been raised by from its private equity placement.
The exercise attracted broad participation from international and African institutional investors, sovereign-related investment vehicles, development finance institutions, strategic partners, and individual investors.
Notable participants included the Africa Finance Corporation (AFC) and India Infra Buildco, an investment vehicle facilitated by the African Export-Import Bank (Afreximbank), reflecting deep and diversified confidence in DPRP’s long-term prospects.
The transaction is believed to be Africa’s largest publicly disclosed primary equity private placement, marking a significant milestone in the history of the organisation and demonstrating strong investor confidence in the refinery’s long-term growth strategy, including raising its current capacity from 700,000 barrels per day to 1.4 million barrels per day.


