CBN Enhances Anchor Borrowers Programme With N174. 48Bn

Yemisi Izuora

The Central Bank of Nigeria (CBN) has so far cumulatively disbursed N174. 48 billion through 19 financial institutions under its Anchor Borrowers Programme since 2015.

The Director, Corporate Communications Department of the bank, Mr Isaac Okoroafor made the disclosure on Friday in Enugu at the on-going Enugu International Trade Fair.

Okoroafor, who was represented by the Deputy Director of department, Mrs Veronica Always, said that the programme had supported 902, 518 farmers working with 194 anchor companies.

He said the scheme had so far created 2.8 million and 8.4 million direct and indirect jobs respectively.

According to him, the institution had over the years sustained its intervention in other critical sectors like power, aviation, health and others which had triggered robust economic growth and development in the country.

Okoroafor said that the bank had as at December 2018, disbursed about N183.09 billion under the Nigeria Electricity Market Stabilisation Facility (NEMSF), launched in December 2014.

He said the N213 billion facilities were aimed at settling some debts in the Nigerian Electricity Supply Industry (NESI).

Okoroafor said that efforts of the bank had led to the generation of more than 1, 200 MW in both hydro and thermal plants.

He said that N25.4 billion had been disbursed under the Non-Oil Export Stimulation Facility (NESF) and Export Development Facility (EDF) initiative of the bank.

He explained that the scheme initiated in 2018, was to facilitate access to credits in various sectors.

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