17th Nov, 2021 @ 11:33 AM


CBN has disbursed almost N3Trn to Nigerians as COVID19 relief— CBN Chief, Godwin Emefiele


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Godwin Emefiele, the central bank of Nigeria —CBN Governor has said about N3trillion has been distributed to families, farmers and companies to lessen the impact of COVID-19.

READ ALSO; CTG Industry: Emefiele reveals CBN plan for the next three years

Godwin Emefiele said this in an interview with Arise TV at the 2021 Intra-African Trade Fair in Durban, South Africa.

commenting on complaints that the Central bank of Nigeria was overreaching its statutory bounds, Godwin Emefiele said the central bank had been playing complementary roles for the interest of Nigerians and businesses.

READ ALSO; “We must all suffer before things become right in Nigeria”- Former CBN governor Sanusi Lamido

Between 2020 and now, our data shows that we have disbursed at least N2trillion, almost N3trillion in loans to households, Micro, Small and Medium Enterprises, smallholder farmers, pharmaceuticals and health institutions.

Godwin Emefiele said. 

READ ALSO; Our foreign debt is still within sustainable limits and can be accounted for”— Pres. Buhari

The CBN Governor went further to say that large agricultural companies and manufacturing companies are also accessing 10 years loan with two-year moratorium and single digit rate.

Emefiele recalled that when coronavirus struck, President Muhammadu Buhari tasked him and Finance Minister Zainab Ahmed to work together and suggest an immediate response.

READ ALSO;  “The exchange rate is getting scary” house of reps member cries out over high dollar rate

He said Buhari subsequently approved the establishment of the Economic Sustainability Programme (ESP) chaired by Vice President Yemi Osinbajo.

The central bank played an active part to the extent that the fiscal authorities meant to contribute N500billion and monetary authorities provided almost about N1.5trillion.

This is not as grant but as loans to support people who were impacted by COVID-19 so they can get their businesses back.

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