Mr. Godwin Emefiele, the Nigerian Apex Bank Governor, has described how the central bank of Nigeria has impacted the lives of Nigerians through its intervention programs.
In an interview with Arise News in Abuja, Mr. Emefiele revealed this.
However, he emphasized how, through innovative programs, he built non-traditional monetary policy tools that directly impacted the lives of citizens, particularly MSMEs, farmers, pharmaceutical industries, and the healthcare industry.
The CBN’s statement
“And I can tell you this: our data shows that between 2020 and now, we have given at least N2 trillion, almost N3 trillion in loans to households, MSMEs, smallholder farmers, pharmaceuticals, and health institutions,” he stated.
“We’ve also handed these monies to some of our significant agricultural enterprises who want to get back in business, as well as manufacturing companies that are taking out long-term 10-year loans with a two-year moratorium and single-digit interest rates.” I have evidence that we are doing our part.”
Emefiele indicated that the recently implemented “100 for 100 PPP loan” policy was implemented to assist in job creation and that the central bank will do all possible to provide foreign funds for the import of plants and machinery.
He also stated that the initiative would support President Muhammadu Buhari’s goal of creating millions of employment and making low-interest loans available for long periods.
“At least 80% of the personnel within these new corporate organizations would have to be Nigerian,” Emefiele insisted on the conditions.
We understand that people want to play games, but I can guarantee you that the central bank can keep track of them. Even those who have used our existing intervention initiatives, whether in agriculture or industry, will tell you that our staff goes to check and investigate at least twice a year to see if those programs have been set up and are accomplishing their objectives,” he added.
