fbpx
[ MAIN ]BANKING & FINANCENEWS

CBN Denies Disbursing N300 Billion Industry Fund

funds

The Central Bank of Nigeria (CBN) has refuted claims hat it had began the disbursement of the N300 billion Real Sector Support Facility.

The apex bank stated that contrary to speculations that the fund had been disbursed, the bank was appraising over 200 applications received in respect of the fund.

In a statement signed by the Director, Corporate Communications, Ibrahim Mu’azu, the bank said the appraisal of the applications would be in strict compliance with the eligibility criteria of the facility.

The statement said, ‘The CBN is currently appraising over 200 applications received by it in respect of the N300 billion Real Sector Support Facility.”

‘The policy objectives of the RSS Facility are to provide long-term, low-interest financing intervention in support of the real sector of the Nigerian economy to increase output, create jobs and conserve foreign exchange”.

It added: “The appraisal of the applications by the Nigerian SMEs for the N300bn RSS facility was still in progress in strict compliance with the eligibility criteria of the facility.”

Mu’azu assured Nigerians that recommendations would be made to the management of the bank for approval as soon as the appraisals were concluded.

 

About Author

Comments (6)

  1. NEW POST: #CBN Denies Disbursing N300 Billion Industry Fund http://t.co/SK3MZjCkO1 http://t.co/0Wc9BJTZ8s

  2. RT @BizWatchNigeria: NEW POST: #CBN Denies Disbursing N300 Billion Industry Fund http://t.co/SK3MZjCkO1 http://t.co/0Wc9BJTZ8s

  3. RT @BizWatchNigeria: NEW POST: #CBN Denies Disbursing N300 Billion Industry Fund http://t.co/SK3MZjCkO1 http://t.co/0Wc9BJTZ8s

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.