Advertisement
2023 GOVERNORSHIP AND
STATE HOUSE OF ASSEMBLY ELECTIONS
- days
- Hours
- Minutes
- Seconds
Advertisement
The Central Bank of Nigeria has lent N9.3tn to businesses, recovering N3.7tn from it.
The apex bank said N5tn was not yet due.
Director of Development Finance, CBN, Dr Yusuf Yila, disclosed this to journalists on Wednesday in Abuja, noting that manufacturers got 31 per cent of the fund, which was the biggest chunk.
“Some of the loans are under moratorium. We have moved from agriculture to manufacturing. So far, manufacturing, agriculture, health, exports and SMEs, have benefitted from the intervention,” he said.
He noted that intervention funds had been slowed down in the bank’s efforts to rein in inflation.
Advertisement
He further said that N1tn had been disbursed under the Anchor Borrowers Programme while N400bn had been recovered.
He warned debtors to repay as the bank had collaborated with the Economic and Financial Crimes Commission to set up a desk with a view to recovering the loans.
“Any person who borrowed from us will pay back. We have recovered from states and we debit their FAAC. Every single loan taken from our development finance will be returned.”
(Punch)
Disclaimer
Contents provided and/or opinions expressed here do not reflect the opinions of The Pacesetter Frontier Magazine or any employee thereof.
Support The Pacesetter Frontier Magazine
It takes a lot to get credible, true and reliable stories.
As a privately owned media outfit, we believe in setting the pace and leaving strides in time.
If you like what we do, you can donate a token to us here. Your support will ensure that the right news is put out there at all times, reaching an unlimited number of persons at no cost to them.
Related posts
Stay connected
Recent News
Kano Judge Vacates Order Suspending Ganduje as APC Nat’l Chairman
Advertisement A Kano State High Court presided over by Justice Usman Na’Abba has vacated the order suspending ex-Kano governor Umar…
IGP Egbetokun kicks against state-controlled police, says Nigeria not yet ripe for it
Advertisement The Inspector General of Police, Olukayode Egbetokun, has opposed the establishment of State Police, saying the country was not…