CBN to Create Non-interest Window for Intervention Funds
The Central Bank of Nigeria has said it is finalising works on a framework to integrate non-interest window for all its financing intervention programmes, particularly the Anchor Borrowers’ Programme and the Targeted Credit Facility to boost support for households and Micro, Small and Medium Enterprises affected by the COVID-19 pandemic.CBN’s Director of Corporate Communications, Mr. Isaac Okorafor, and his counterpart in the Development Finance Department, Mr.
Okoroafor explained that the CBN believed that if the problem of food is addressed, the rising prices, which have continued to fuel inflation, will be curtailed. “At the CBN, we realise that recession is actually knocking on the doors of Nigeria, but it can still be averted or at least reduced since recession is defined as two consecutive quarters of negative growth.
Similarly, Yusuf said the apex bank had received correspondences from concerned citizens over the need for a non-interest window, particularly for the COVID-19 funds, the ABP and other CBN intervention support schemes. “This is quite significant if you look at what is happening globally, where traditional large producing country like Vietnam and Thailand for rice are closing their silos and closing borders.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BREAKING: CBN unveils plans for non-interest facility in ABP, othersThe Central Bank of Nigeria (CBN) has unveiled plans to release a framework for integration of non-interest window in all its..
Read more »
CBN Plans Non-interest Loans For Anchor Borrowers, OthersNigeria News, Nigeria Newspapers
Read more »
CBN approves N432 billion to fund cultivation of nine commoditiesThe Central Bank of Nigeria (CBN) says it has set aside about N432 billion to fund the value chains of nine commodities in the 2020 wet season.
Read more »
CBN earmarks N432bn for farmers in 2020This is even as the apex bank revealed plans to integrate non-interest loan window in all its intervention programmes, particularly the ABP and the Targeted Credit Facility (TCF) to support households and... Read more:
Read more »
CBN Announces N432bn Fund To Support Rice Farmers, OthersCBN Announces N432bn Fund To Support Rice Farmers, Others
Read more »
Audit queries: Reps summon CBN, FIRS, NNPC bosses, others|p style=
Read more »