CBN urges beneficiaries to repay their loans

The Central Bank of Nigeria, CBN, has urged recipients of its various loan facilities to repay their loans so that others can benefit from the interventions.

On Monday, the apex bank made the appeal at its Development Finance Department (DFD) Retreat in Abuja.

The CBN also disclosed that it disbursed N9.714 trillion through various interventions.

Mr. Edward Adamu, the Deputy Governor in charge of Corporate Services, promised the DFD greater support to continue its interventions.

He went on to say that the interventions would have an impact on every region of the country.

Mrs. Aisha Ahmad, Deputy Governor, Financial Systems Stability, urged beneficiaries to repay loans so that others could benefit from the interventions.

“The loans disbursed by the CBN through the Development Finance Department, DFD, have had a significant impact on the sustainability of Nigeria’s agric value chain,” she says.

“This was evident in the NBS’s third-quarter GDP report, which showed a 29.9% increase from the first quarter of 2021, up from 21%.”

“However, we urge the recipients of these interventions to repay their loans so that others can benefit.”