CBN disburses N253b to 548,345 households, SMEs

The Central Bank of Nigeria (CBN) has disbursed N253b to 548,345 beneficiaries, as part of its response to the COVID-19 pandemic. The beneficiaries include 470,969 households and 77,376 Small and Medium Enterprises (SMEs).

Acting Director, Corporate Communications, Osita Nwanisobi, disclosed this, yesterday, at the bank’s special day at the ongoing 42nd Kaduna International Trade Fair.

He said the bank had reduced its interest rate on CBN intervention loans from nine to five per cent, to encourage more lending and created an N150b Targeted Credit Facility (TCF) for affected households and SMEs through the NIRSAL Microfinance Bank.

He also said over 3,107,949 small–scale farmers benefitted from the Anchor Borrowers’ Programme (ABP) as of April 2021.

He said: “We enjoin Nigerians, particularly women and youths, to key into our intervention programmes and take advantage of schemes, such as ABP, Targeted Credit Facility (TCF), Commodity Development Initiative (CDI), Creative Industry Financing Initiative (CIFI), Micro Small and Medium Enterprises Development Facility (MSMEDF) and Agric-business/Small and Medium Enterprises Investment Scheme (AGSMEIS).”

Meanwhile, Nwanisobi, represented by CBN Branch Controller, Kaduna, Ahmed Mohammed Wali, warned Nigerians to stop disrespecting Naira notes.

He urged them to see them as a critical symbol of national identity, and called on Nigerians to always respect and keep Naira clean.