From Uche Usim, Abuja
The Central Bank of Nigeria (CBN) yesterday disclosed that N149.21 billion has so far been disbursed to 316,869 households and Micro, Small and Medium Enterprises (SMEs), in its strategic move to ameliorate the impact of the Covid-19 pandemic on Nigerians.
The CBN governor, Mr Godwin Emefiele, made the disclosure in his keynote address at the 30th edition of the CBN Seminar for Finance Correspondents and Business Editors with theme “Leveraging Digital Economy To Drive Growth, Job Creation and Sustainable Development.”
Represented by the Deputy Governor, Corporate Services, Mr Lamtek Edward Adamu, Emefiele hinted that the funds disbursed came from the N150 billion Targeted Credit Facility (TCF) for affected households and small and medium enterprises and carried out through the NIRSAL Microfinance Bank.
“Given the resounding success of this programme and its positive impact on output growth, we have decided to double this fund to about N300 billion, in order to accommodate many more beneficiaries and boost consumer expenditure which should positively stimulate the economy.
“In line with the growing need to go digital, the application process is done online and requires limited paperwork from prospective applicants,” he stated.
On cryptocurrency, Emefiele reiterated that the CBN did not place any new restrictions on the use of cryptocurrency in Nigeria, saying: “Our recent directive only amplified an earlier regulation on the subject of cryptocurrency. The recent directive became necessary to protect the financial system and the generality of Nigerians from the risks inherent in crypto-asset transactions, which have escalated in recent times, with consequences on financial stability and implementation of monetary policy.