Naija247newsOct 15, 2023 3:37 AM
..After Disbursing N9.7 Trillion in Three Years

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In a recent shift of focus, the Central Bank of Nigeria (CBN) has opted to step away from direct involvement in development finance programs. The decision, spearheaded by the new governor, Dr. Olayemi Cardoso, signals a strategic move towards prioritizing advisory roles in driving economic growth, according to sources within the institution.

The CBN’s sizeable intervention initiatives, which encompassed programs such as the Anchor Borrowers Programme, the 100 for 100 Policy on Production and Productivity (PPP), the Real Sector Facility (RSF), and the Nigeria Electricity Market Stabilisation Facility, are likely to come to an end in light of this shift. Documents reveal that an astounding N9.71 trillion has been disbursed through these programs over the past three years, highlighting the substantial impact of the CBN’s intervention efforts.

Under the new approach, the CBN aims to facilitate the development of specialized financial instruments and institutions that cater to various economic sectors, aligning with its core objective of stimulating economic growth. Additionally, the institution plans to promote legislative reforms to expedite access to consumer credit, bolster financial inclusion, and unlock dormant capital in real estate assets. Moreover, the CBN’s focus will extend to mitigating risks for private sector investments in critical sectors like housing, textiles, healthcare, and education.

While the decision marks a significant transition in the CBN’s modus operandi, it underscores a renewed commitment to its fundamental mission. As the apex bank realigns its priorities, the broader objective appears to be the acceleration of industrialization and the facilitation of multilateral collaboration between the government and private sector stakeholders, ultimately fostering sustainable economic development in Nigeria.

The right move.

So no free money again from CBN

So many briefcase farmers collecting free money from CBN without no farm or farm inputs .. all they do is carry documents inside briefcase and walk in to CBN using padi padi arrangements to get humongous free money from CBN...

It has to stop ...

E go get ripple effect
Food prices about to escalate

e don red bad as it is we will still not see the impact of this we are yet to feel the impact of subsidy removal,where are all the money saved.

I can't see any positive result of this CBN interventions especially in the agriculture sector

CBN should concentrate on stabilizing the naira that’s nose diving seriously

When you hear Nigeria leaders complain that the country is broke, just know that the mean there is no much in the treasury for them them to loot

Abokis dominance on agriculture is over.