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CBN Mobilises Ekiti People Over N150 Unaccessed Msmes Loan


The sum of N63 billion out of the N220 billion set aside by the federal government through the Central Bank of Nigeria (CBN) to boost micro, small and medium-scale enterprises(MSME) in the country had been disbursed as at March, 2016.

60 per cent of the fund, according to the apex bank, would be dedicated to the provision of financial services to women based enterprises.

A CBN assistant director in the real development department, Mr Babatunde Ogunlaja, made the disclosure yesterday in Ado Ekiti, the Ekiti State capital during an interactive session with prospective loan beneficiaries of the scheme comprising farmers, businessmen and women, artisans and unemployed youths.

Ogunlaja said that experience has shown that women repay loans more than men and this made the bank to allot such high percentage to them.

He noted that N5 billion was disbursed to 80,000 farmers in Kebbi State to boost rice production in the country.


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