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CBN disbursed N3t loans to Nigerian businesses for COVID-19 recovery – Emefiele

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CENTRAL Bank of Nigeria (CBN) Governor, Godwin Emefiele says about N3 trillion has been distributed to families, farmers and companies to cushion COVID-19’s  impact on    businesses.

  Emefiele made the revelation in an interview with the press at the 2021 Intra-African Trade Fair in Durban, South Africa.

On complaints that the bank was overreaching its statutory bounds, he said the CBN had been playing complementary roles for the benefits of Nigerians and businesses.

“Between 2020 and now, our data shows that we have disbursed at least N2trillion, almost N3trillion in loans to households, Micro, Small and Medium Enterprises, smallholder farmers, pharmaceuticals and health institutions,” Emefiele said.

The CBN chief added that large agricultural companies and manufacturing companies are also accessing 10 years loan with two-year moratorium and single digit rate.

He recalled that when coronavirus struck, President Muhammadu Buhari tasked him and Finance Minister Zainab Ahmed to work together and suggest an immediate response.

Emefiele said Buhari subsequently approved the establishment of the Economic Sustainability Programme (ESP) chaired by Vice President Yemi Osinbajo.

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