The Central Bank of Nigeria (CBN) has made a cumulative disbursement of N277.4 billion as Power and Airline Intervention Fund (PAIF) between September 2016 till June 2017.
The report also revealed that a cumulative sum of N106.13 billion was repaid within the same period.
The programme has 16 Airline projects and 43 Power projects which are being supported through the CBN’s Power and Airline Intervention Fund (PAIF) aimed at keeping them afloat amid harsh economic situation and threats to jobs.
The report further revealed that N55.8 billion has been repaid on the 16 projects supported under aviation sector which stands at N120.76 billion, representing 43.5% of the total interventions in both sectors; also, the 43 Power projects which is worth N156.64 billion – 56.5% of the total intervention have repaid N50.3 billion as at June 2017.
In the same vein, CBN’s Agricultural Credit Guarantee Scheme (ACGS) has refunded farmers about N105.4 million from January to June 2017, under its Interest Drawback Programme (IDP).
Similarly, the apex bank’s Agricultural Credit Guarantee Scheme Fund (ACGSF) has refunded farmers about N105.4 million from January to June 2017, under its Interest Drawback Programme (IDP).
IDP which is jointly funded by the FG and CBN was developed under ACGSF to allow farmers borrow from lending banks at market-determined rates, while providing interest rebate of a determined percentage to them where the loans are repaid as and when due.
A cumulative sum of N.1 billion has been expended by the CBN under the IDP from 2014 to June 2017 towards facilitating borrowings by farmers as well as boost agricultural activities in the country.
In 2014, N323.1 million was repaid to farmers in 29,011 claims; 2015, N394.8 million, made up of 31,142 claims; 2016, N265.9 million, in 25, 035 claims; and as at June, 2017, N105.4 million in 13,102 claims.
