CBN Urges Nigerian Banks to Increase Agric Sector Lending to 10%
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has asked banks in Nigeria to consider increasing the percentage of loans available to the agriculture sector to 10 percent by 2024.
Emefiele advocated for a spike in the current four per cent.
This comes on the heels of optimism by Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed that the Nigeria economy will bounce back strongly within the near term with the right policy responses to the multidimensional crises occasioned by the COVID-19 pandemic.
The CBN governor while delivering an address at the opening ceremony of the 13th Annual Banking and Finance Conference said the sum of N69 billion had so far been disbursed to over N140,000 beneficiaries from the N100 billion CBN COVID-19 support...