The Central Bank of Nigeria (CBN) has disbursed the total sum of N107.45 billion to beneficiaries from the N1.15 trillion Covid-19 Pandemic Intervention Funds so far, according to data provided by the bank from the Monetary Policy Meeting for May 2020.
The Bank announced that under the N100 billion Healthcare Sector fund, N10.15 billion has been disbursed and approved for establishments of advanced diagnostics and Health Centres and expansion of Pharmaceutical plants for essentials drugs and intravenous fluids.
The Bank has also disbursed N93.2 billion under the Real Sector Support Fund to boost local manufacturing, which consists of 44 Greenfield and Brownfield projects.
Finally, the Bank has approved N10.9 billion to 14,331 beneficiaries under the N50 billion Targeted Credit Facility for Households and SMEs, out of which N4.1 billion has been disbursed to 5,868 successful beneficiaries.
READ MORE: Nigeria’s Fund Industry Remain Resilient Amid COVID-19 Concerns
The Central Bank Governor, Godwin Emefiele said the bank will also encourage Banks to offer and disburse the funds to the sectors that are priority to the economic to aggregate demand and create jobs.
The MPC meeting policy also expects a sharp decline in output growth in Q2 2020 and maybe the third quarter and expects the economy would reverse positive by fourth quarter if current stimulus initiatives are properly implemented.
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Disbushing to which state
It is sad for more a month today i filled formQ to purchase a machine from China, it has not seen green light what an empowerment they are talking about total cost is $3964 after initial deposit was paid in January through a company bamidele oyedeji and coy
Central Bank of Nigeria through Nirsal Covid 19 loan Should look into those of us that have seen alert on NMFB account for two weeks now instead of our preferred and sent account number and still not seen the money which the Nirsal NMFB in ILORIN can not tell exactly where the money is after we have been forced to open an account with them ( Nirsal NMFB) with 10,000. We will want to know if the money have been re-diverted to another place or the government is not interested in assisting us again. This is the end of the second weekend. Thanks sir.
That iam a small scale farmer if assisted with this covid 19 palliative it will be great help
Can someone help me with the correct websites for the CBN loan please.
Nura yakubu from nasarawa stater local government lafia area tudu kauri lafia
How come one never hears about these monies until they’re done spending them??? Always foul play in Nigeria matters ????
To the office of Centre Bank Governor; I had filled out the form from the office of NIRSAL/NMFB almost a month now but I couldn’t heard anything yet neither text message. I am using this medium to draw the attention of the appropriate authority in charge of the loan intervention fund to kindly look into the matter and provide a quick solutions in order for me to commence my farming project on time. Best Regard.