Unbelievable:See Why Shell, NNPC Sign MoUs With 8 Banks


Shell Companies in Nigeria, supported by the Nigerian National Petroleum Corporation (NNPC), have signed Memoranda of Understanding (MoUs) with eight Nigerian banks under the refreshed Shell Contractors’ Support Fund, the latest milestone in efforts to improve access to finance for Nigerian......
vendors and suppliers in the oil and gas industry, Premium Times reports.
Under the MoUs signed in Lagos in November, Access Bank, Skye Bank, Zenith Bank, Stanbic IBTC Bank, First Bank, Standard Chartered Bank, First City Monument Bank and Guaranty Trust Bank have set aside $2.2billion for contract execution by Nigerian firms.
MLM Gateway - Helping network marketers build their businessThe scheme provides support for contractors to enable them finance projects executed for Shell Companies in Nigeria in line with the aspirations of the Nigerian Content Act. 

To access these funds, the contractors must have a valid purchase order and meet the banks’ risk assessment criteria. This refreshed version is in response to market realities and will offer loans faster and at cheaper rates.

 

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