The proceeds of the loan will be used to support FCMB’s capital position (Tier-II), thereby allowing the institution to roll out its strategy, focusing more on SME, retail, agri and female entrepreneurs.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|Eni SpA||Parent Company||Mining||owns||Nigeria LNG Complex Train 7||Client||Mining|
|FCMB Group||Investor||Finance||invests in||Bk Of Ind Ltd||Parent Company||Construction|
|FCMB Group||Investor||Finance||invests in||Eni SpA||Parent Company||Mining|
|FCMB Group||Investor||Finance||invests in||Nestoil PLC||Parent Company||Mining|
|FCMB Group||Investor||Finance||invests in||Nigeria LNG Complex Train 7||Client||Mining|
|FCMB Group||Investor||Finance||invests in||Nigerian National Petroleum Corporation||Parent Company||Mining|
|FCMB Group||Investor||Finance||invests in||Royal Dutch Shell||Parent Company||Mining|
|FCMB Group||Investor||Finance||invests in||Seplat Petro Dvlp Co Ltd||Parent Company||Mining|
|FCMB Group||Investor||Finance||invests in||total||Parent Company||Mining|
|Nigerian National Petroleum Corporation||Parent Company||Mining||owns||Nigeria LNG Complex Train 7||Client||Mining|
|Royal Dutch Shell||Parent Company||Mining||owns||Nigeria LNG Complex Train 7||Client||Mining|
|total||Parent Company||Mining||owns||Nigeria LNG Complex Train 7||Client||Mining|
No contact information provided at the time of disclosure