Uche Usim, Abuja
The Central Bank of Nigeria (CBN) on Thursday revealed that 255 firms and 14 state government have participated in its Anchor Borrowers’ Programme (ABP) as at June.
The apex bank added that 1,140,854 farmers are producing 17 different agricultural commodities under the programme.
The Director, Corporate Communications Department of bank, Mr Isaac Okorafor disclosed this in Abuja at the bank’s special day at the ongoing Abuja international trade fair themed: “Remodelling SMEs Financing: Options and Solutions”.
Okorafor, who represented by the Deputy Director, CCD, Mrs. Veronica Aqua revealed CBN currently has 29 intervention programmes targeted at various stakeholders groups such as framers, women, youth, and SMEs.
“Some of these interventions, which had contributed significantly in driving Nigeria’s economic growth and development include, the micro,, small and medium enterprises development fund designed to Chanel low interest funds to the NSMEs sub- sector to enhance access by entrepreneurs, especially women and people living with disability”..
Other interventions of CBN, Okorafor revealed, include Commercial Agricultural Credit Scheme which commenced in 2009 to fast track development of agricultural sector.
According to him, CBN has collaborated with the Bankers Committee to institute the Agric-business Small and Medium Enterprises Scheme to create employment opportunities and boost the managerial capacity of agric-businesses.
He said, “The CBN and Bankers Committee equally set up the Creative Industry Financing Initiative to improve access to long-term, low-interest financing by entrepreneurs and investors in the industry.
“The bank did the same thing in Information Technology sub sectors to boost job creation in the country especially among the youth”.
In her remarks, Tonia shoyele, the Director-General of Abuja Chamber of Commerce hailed the apex bank’s interventions in various sectors of the economy.
She added that the fair seeks to revitalize the Nigerian economy by promoting non-oil sector investments that will attract the needed employment for Nigerians.
“We appreciate the CBN for stabilizing the economy and protecting our currency.
“Nigerian payment system has improved with new innovations. The MPC has also done well, either adjusting or retaining key indicators. “The CBN has stopped some players in the financial sector from sharp practices”, she added.