Saturday , September 24 2022
CBN Disburses N368 Billion to 778,000 Households, SMEs Beneficiaries

CBN Disburses N368 Billion to 778,000 Households, SMEs Beneficiaries

The Central Bank of Nigeria (CBN) said it has disbursed N368.79 billion to over 778,000 comprising of 648,052 households and about 130,000 Small and Medium Enterprises (SMEs).

It also said 4,478,381 smallholder farmers who cultivated 5.2 million hectares of farmland across the country and created 12.5million direct and indirect jobs had received N948billiin under the Anchor Borrowers’ programme(ABP).

CBN Director,  Corporate Communications Department, Osita Nwanisobi, stated these at the CBN’s day at the 43rd Kaduna International Trade Fair on Thursday.

Read More: Banks Borrowing from CBN Fall by 47%

Osita, who was represented by the Deputy Director, Sam Okogue, said the Bank through its development role enshrined in the CBN Act 2007, as amended, has led policy and financing support to about 40 interventions through development finance initiatives such as the Agricultural Credit Guarantee Scheme Fund( ACGSF); the MSME Development Fund; the Agribusiness/small and medium Enterprises investment Scheme(AGSMEIS); and the Non-oil Export Stimulation Facility(NESF), the Anchor Borrowers’ programme (ABP), amongst others.

He explained the recently launched Tertiary Institutions Entrepreneurship Scheme( TIES) is expected to unleash the potential of Nigeria graduate entrepreneurs (gradpreneurs) by providing re-orientation, training and innovative financing models.

Osita said in view of the above, the economy without no doubt will enjoy greater global competitiveness when all hands key into the various initiative of the bank.

He reassured CBN will continue to be a people-focused Central Bank promoting confidence in the economy and enabling an improved standard of living.

About Bukola Olanrewaju

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