The Central Bank of Nigeria (CBN) has lent N9.3 trillion to companies while reclaiming N3.7 trillion.
Dr Yusuf Yila, CBN’s Director of Development Finance, revealed this to media on Wednesday in Abuja, stating that manufacturers received 31% of the investment, which was the largest portion.
“Some of the loans are subject to a moratorium.” We’ve transitioned from agriculture to manufacturing. “So far, the intervention has benefited manufacturing, agriculture, health, exports, and SMEs,” he stated.
He emphasized that intervention funds had been reduced as part of the bank’s attempts to control inflation. He also stated that N1 trillion has been disbursed under the Anchor Borrowers Programme, with N400 billion returned.
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.”
