Nigerian bank says non-performing loans to entrepreneurs almost 100%

The Bank of Industry has said the country’s entrepreneurs don’t have the habit of repaying loans, saying its non-performing loan portfolio awarded to entrepreneurs ranges between 80 and 100 per cent.

The bank’s managing director, Olukayode Pitan, disclosed this recently at the first edition of the community engagement development workshop organised by the Arthur Mbanefo Digital Research Centre (AMDRC) of the University of Lagos (UNILAG), Akoka.

The workshop, with the theme; “Building the Nigeria’s Economy for the Immediate Future: The Role of Innovation and Entrepreneurship and Startups Creation,” featured scholars and industry leaders including the director of the

Read More

Finance and Accounting information for Entrepreneurs

EisnerAmper Partner Amar Bhatkhande recently participated in a finance and accounting panel discussion during a virtual TiE Silicon Valley networking event designed to connect with the Silicon Valley chapters’ charter members. The panelists broadly outlined the major areas of focus for entrepreneurs in relation to the financing and accounting functions of their startups (see also, Entrepreneur Resource Hub). The discussion highlighted the differences between the key considerations for companies that are in the pre-revenue generation stage and for those that are in early stages of revenue generation.

Panelists included:

  • Amar Bhatkhande, Partner, EisnerAmper
  • Kamal Anand, Board Member, TiE Silicon
Read More