Citing corruption and unnecessary stringent conditions being experienced while trying to access the N220 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF), the Association of Micro Entrepreneurs of Nigeria (AMEN) has called on the Economic and Financial Crimes Commission (EFCC) to urgently probe the Bank of Industry (BoI) activities regarding disbursement of the fund.
This is coming on the heels of similar displeasure and worry expressed recently by stakeholders in the nation’s real sector, who have noted with dismay, the inability of many entrepreneurs to access the N220 billion SME’s funds, a development that has pushed operators in the Micro, Small and Medium Enterprises(MSME) sector, lately, to appeal to the Central Bank of Nigeria (CBN) to promptly review the guidelines for the disbursement of the intervention funds, which is aimed at assisting the operators to shoreup their production capacity.
AMEN President, Prince Saviour Iche, alleged that officials of Bank of Industry (BoI) unduly prevent SME operators from accessing the N220 billion MSMEDF made available by the Federal Government for selfish reasons. He said it was time EFCC investigated activities of the bank.
