Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) has said that the central bank has disbursed about N3 trillion to Nigerians on intervention programmes.
He made this known during an interview with Arise Television.
Emefiele has employed non-traditional monetary policy tools with his intervention programmes targetted at MSMEs, such as smallholder farmers, pharmaceuticals and health institutions.
- CBN cost of printing banknotes declines by about 28.8%
- NDIC says overcharged bank customers can petition CBN, NDIC for refund
According to him, between 2020 and now, data shows that the CBN has disbursed at least N2 trillion, almost N3 trillion in loans to households, to MSMEs, to smallholder farmers, to pharmaceuticals and health institutions.
He said “We have also given these funds to some of our large agricultural companies that want to get back again to business, to manufacturing companies who are accessing long term 10 years loan with two-year moratorium with single-digit rate. I have data that shows we are playing our part.”
Emefiele noted that the recently established “100 for 100 PPP loan” policy was introduced to help create jobs, and that the central bank will do everything possible to supply foreign cash for the import of plants and machinery.
He also said that the scheme would complement President Muhammadu Buhari’s ambition to create millions of jobs and make loans available at low rates for lengthy periods of time.
“In terms of the prerequisites, at least 80 per cent of the employees within these new corporate entities would have to be Nigerian,” Emefiele insisted. (Nairamertics)
