CBN Disburses N338.6b COVID-19 Intervention Funds

CBN Disburses N338.6b COVID-19 Intervention Funds: Monetary Policy Committee (MPC) member, Sanusi Aliyu Rafindadi, has revealed that report has shown significant progress in the implementation of the CBN’s COVID-19 intervention funds, saying the Central Bank of Nigeria (CBN), has disbursed N338.6billion coronavirus (COVID-19)-related intervention funds to beneficiaries across various sectors.

Sanusi Aliyu Rafindadi, while giving the breakdown in a note released by the apex bank, as received by Mediangr said Over N152.9 billion (or 15.2 percent) of the N1 trillion targeted support for the manufacturing sector has been disbursed.

N26.278 billion (or 26.3 percent) of the N100 billion Healthcare funds, has been disbursed to fund 20 projects, with additional 16 applications for N67.413 billion were under processing.

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Of the N50 billion Targeted Credit Facility for Households and Micro, Small and Medium Scale Enterprises (MSMEs) disbursed by NIRSAL Microfinance Bank, N49.195 billion has been given out to 91,736 beneficiaries.

With N1.5 billion disbursed to 169 beneficiaries under the Creative Industry Financing Initiative (CIFI).

Under the Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS), N41.41billion has been disbursed to 11,613 beneficiaries.

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He further explained that the loan facilities were given at five percent interest rate, successful and timely disbursement of the entire N3.5 trillion would go a long way in providing the needed low-cost liquidity to businesses and households as the economy gradually re-opens.

With a successful implementation of the Federal Government’s Economic Sustainability Plan, real output growth is expected to range between -0.39 percent and -0.16 per cent in the year, and between 0.7 percent and 1.48 percent in first quarter 2021 depending on the level of oil price.

10 comments
  1. I saw the money about 423,636 but iam unanable to transfer the money into my account.They show me its impossible to access my request due to limits set by my bank.pls how can I transfer it successfully? Because my account can accommodate a millions

  2. I have applied for the loan since last two months.. But up till now I have not receive it non even text massage… Honestly I don’t known what to do again because I didn’t have any money to start some…I have no job doing now because of the pandemic.and I have family to take care.
    Please CBN help us…before we die.

  3. What of me that I applied for the loan and up to now I did not get?so please let the federal government help us, so that we can expand our business.

  4. I now to appreciate my opinion which regards to the government agencies to make decisions on time , anything about the works for the government agencies, government should bring disputing thier time, people are so mood for that, please govt make sure that when you are ready for doing this, while you determine make decisions on time.

  5. I adamu Suleiman, I am from fika local government yobe state of Nigerian I want to apply this program because of some personal reasons and insha ALLAH I am expecting to achieve the goal,i want to do business but doo to the lack of capital I am not but I am farming by now.

  6. This is highly commendable. May God almighty bless and direct our leaders especially the current administration. Long live buhari administration, long live Nigeria. Let’s keep on praying for our country to be the best place in the world. I believe in God almighty, I believe in Nigeria.

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