Katsina State Flags Off N2 Billion CBN SME Loan

Katsina state governor Aminu Bello Masari has at long last approved the disbursement of N2bn CBN-SME loan.

The State House of Assembly had, in August 2015, had granted approval to the state government to secure N2bn loan from the Central Bank Of Nigeria (CBN) for small and medium enterprises (SMEs).

After an the assembly’s approval, the state government inaugurated a special committee under the leadership of the then state APC chairman, Abdulkadir Mamman Nasir, to commence the process of disbursing the funds.

However, reprieve came when Governor Masari, on Friday, flagged off the disbursement of the loan to cooperative groups in the state.

Speaking during the ceremony, Masari said 500,000 traders would benefit from the scheme which is expected to boost income generating activities  in the state. He assured that the state government would pay the 9% interest on the principal sum collected from CBN to reduce burden on beneficiaries.