Apex bank clarifies previous intervention funds’ disbursement

The Central Bank of Nigeria has said previous intervention funds had been effectively channeled to the critical sectors of the economy.
The CBN has, however, dismissed insinuation that the level of accessing the funds is low.
Speaking during an oversight visit by members of the House of Representatives’ Committee on Insurance and Actuarial Matters to the Lagos officeof the CBN, the CBN Governor, Mr. Godwin Emefiele, said, “I will not say the level of assessment is low. It is important for us to understand that in the process of granting a loan, there has to be various forms of assessments to determine the viability of the project and to determine
whether that project can pay up. So, we have the Commercial Agriculture Credit Scheme, the Power and Aviation Intervention Fund, and others and they have been fully
disbursed.”
Emefiele further explained, “The one that you may be talking about is the Micro, Small and Medium Scale Enterprises Development Fund, where we have about N220 billion. But so far, close to N90 billion has been disbursed.