By Adedapo Adesanya Islamic financial institution, Lotus Bank, is seeking a $1 billion facility from the Islamic Development Bank (IsDB) to back its bid to provide funds to expand its operations and tackle wider economic challenges in Nigeria. This was disclosed by Mrs Kafilat Araoye, the chief executive of the Lagos-based non-interest bank, at the 2024 IsDB Group Annual Meetings in Riyadh, Saudi Arabia’s commercial capital. According to the CEO, the capital support funding facility could help spur growth in the key sectors of the economy. The facility could boost foreign exchange inflow into Nigeria, where liquidity is running dry as the
Lotus Bank Targets $1bn Facility From Islamic Development Bank
