The Central Bank of Nigeria (CBN) has revealed that it disbursed a total of N106.96 billion to 27,956 beneficiaries of Agri-Business Small and Medium Enterprise Investment Scheme (AGSMEIS).
This information is contained in a recent communique from the last MPC report of the CBN.
Recall that Nairametrics had earlier reported the expansion of AGSMEIS beneficiaries to 14,638. In lieu of this, the recent figures show a remarkable improvement of an additional 13,318 beneficiaries.
The apex also revealed that it has disbursed a total of N2.0 trillion as at January 2021. Other key disbursements are;
- The disbursement of N192.64 billion to 426,016 households and small businesses under the COVID-19 Targeted Credit Facility (TCF).
- The disbursement of N72.96 billion to the Health Care Support Intervention Facility, directly impacting about 73 projects which comprises of 26 pharmaceutical projects and 47 hospitals and health care services projects in the country.
- In a bid to support the provision of employment opportunities, the apex bank provided financial support of N3.12 billion to 320 beneficiaries under the Creative Industry Financing Initiatives and N268 million to 395 beneficiaries under the Nigerian Youth Investment Fund.
- The apex bank also provided N18.58 billion for the procurement of 347,853 electricity reading meters to Discos, in a bid to support the National Mass Metering Programme.
What you should know
- The Agri-Business/Small and Medium Enterprise Investment Scheme is a Federal Government initiative aimed at supporting efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) in Nigeria, with the long-run goal of achieving sustainable economic development and employment generation.
- With the CBN AGSMEIS Loan, one can access up to N10M at 5% per year without collateral.
More Nigerians don’t trust government, fear losing jobs more than COVID-19 – Report
The 2021 Edelman Trust Barometer has revealed that Nigerians trust NGOs, businesses more than they trust the government.
A recent survey has revealed that only 24% of Nigerians have trust in the government which is one of the lowest rates in the world. The report also stated that Nigerians have more fear of job losses than Covid-19.
The was revealed in the 21st Edelman Trust Barometer Survey Report on Nigeria unveiled virtually by Edelman and its Exclusive Nigerian Affiliate, Chain Reactions Nigeria, in Lagos on Tuesday, 23 February 2021.
Presenting the 2021 Nigeria findings with the theme: ‘Pandemic’s Ongoing Impact on Trust’, CEO of Edelman Africa, Jordan Rittenberry, noted that Nigerians are looking to civil society organisations and businesses to assist the government in uplifting communities and driving positive change.
The 2021 Edelman Trust Barometer Report revealed that “out of the four institutions of government, business, media and Non-Governmental Organisations (NGOs), Nigerians trust civil society organisations the most, with businesses coming second.”
Highlights of the survey include:
- Most Nigerians expressed distrust for the media and returned the lowest trust quotient in the world for government with 24%.
- Nigerians overwhelmingly placed the highest Trust in their ‘employers’, and in the process revealed their expectations for CEOs and business leaders to be more pro-active in speaking out on societal issues (92%) and driving positive change (79%) rather than wait for government.
- Nigerians fear losing their jobs more than they fear coronavirus, with a high degree of vaccine hesitancy revealed, as only 26% expressed readiness to take the COVID-19 vaccine when made available.
Laolu Akande, the Senior Special Assistant on Media to Vice President Yemi Osinbajo said: “Distrust in government is not peculiar to Nigeria. However, the government does have the responsibility to up its game in communication, to demonstrate responsibility and responsiveness.”
Akande cited the acclaimed National Social Intervention Programmes, and the COVID-19 Survival Fund as some evidence of the Muhammadu Buhari administration’s unprecedented responsiveness to Nigerians.
In case you missed it
Nairametrics reported last month that only 68.8% of Nigerians believe Covid-19 is real. While 39.9% of Nigerians say they will take the vaccine, 63.3% are opposed to another lockdown, in a report by SBM Intel
SEC denies knowledge of Oando shareholder’s court case
SEC has denied ever being served with court processes with respect to the purported matter at the FCT High court.
The Securities and Exchange Commission (SEC) has denied the claim by one of Oando Plc’s shareholders, Engr Patrick Ajudua, that he won a court case against the capital market apex regulator.
SEC disclosed in a statement it issued and seen by Nairametrics on Wednesday that there was never a time it was served with court processes with respect to the purported matter at the FCT High court.
It stated, “The attention of the Securities and Exchange Commission (the Commission) has been drawn to several publications in the media, where it is reported that a shareholder of OandoPlc, purportedly obtained a judgment from the Federal Capital Territory High Court against the Commission.
“The Commission wishes to inform the general public that it was never at any time served with court processes with respect to the purported matter at the FCT High court. The Commission will consequently take all necessary steps to verify and set aside the purported decision of the said Court.”
The attention of the Commission has been drawn to several publications in the media, where it is reported that a shareholder of OandoPlc, purportedly obtained a judgment from the FCT High Court against the Commission. Full Statement –> https://t.co/olT2FpxaEK
— SEC Nigeria (@SECNigeria) February 24, 2021
What you should know
- On Tuesday, Ajudua, reportedly won a legal suit, which was filed at the High Court of the FCT against SEC, according to Nairametrics.
- He filed that the directive of the SEC suspending Oando’s Annual General Meeting is in breach of his right to freedom of association as guaranteed under Section 40 of the Nigerian Constitution and Articles 9, 10 & 11 of the African Charter on Human and Peoples Rights.
- In the said hearing presided over by Honorable Justice O. A Musa, all cases filed were granted in his favor.
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