Browsing: Commercial banks

“Government is committed to the scheme. Our miners cannot achieve much as long as they rely on shovel and digger for their work. We also know that modern equipment are quite costly. So, government would make arrangements with financial institutions and some operators to make the equipment available for leasing.”

The banks have failed to remit $2.1 billion, the government’s share of dividends from the state-owned gas company, NLNG. The banks were supposed to pay the money into the government’s account at the central bank but have failed so far.