MSMEs fund hits N220 billion – CBN

According to reports, the Central Bank of Nigeria (CBN) at the weekend in Enugu disclosed that the Micro, Small and Medium Enterprises (MSMEs) fund has hit N220 billion.

CBN

The bank which announced this at a three-day sensitisation fair it embarked upon to create awareness, said the apex bank was also in Enugu to explain its activities to the people, as well as acquaint them with the opportunities available in the bank.The CBN’s acting Director, Corporate Communications, Mr Isaac Okorafor, who stated this also, said that 60 per cent of the MSMEs fund was designed for women and enterprises owned by them.

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According to him, some states in the federation have already accessed the fund to the tune of N1 billion and N2 billion which they have also retailed to the registered cooperative members in their states. “Some states elected to pay the interest which is not more than nine per cent on behalf of the beneficiaries. That is a lot of guarantee and some are recording huge success.He, however, called on Nigerians to re-adjust so as to get out of the present economic situation. “With this kind of situation, Nigerians should try to adjust themselves.

This is the real change, we need to change our ways to the realisation of a new troubling situation that is no longer business as usual. Nigerians should learn how to save the little they have so they can use it over time. “Nigerians should begin to eat what we produce and not to look for expensive dollars to import food.

We should go back to corn, yam and made in Nigeria rice. Let us produce tooth-pick and not import it from China. We should stop importing chicken when we have them here. Nigeria should brace up. This is not a 100-metre marathon.

Let us brace up and change our ways,” he pleaded.Okorafor also disclosed that the main objective of the sensitization programme was to create awareness about CBN activities and the numerous opportunities that could help to grow the real sector of the country’s economy.

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6 Comments

  1. Good advise to us all. We must change as a people and patronize our made in Nigeria goods including food produced in our country, yam, garri, Abakiliki rice, etc. Our situation and troubling times is indeed like a marathon race and will take years and not a few days to normalize.

  2. dis is nt a call to be appreciative of it doesn’t stop or minimize inflation ,recession still stand aside bt I wount call it false cos d truth of it all is Nigeria ,koni baje

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