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CBN Boosts Anchor Borrowers Programme With N174. 48b In 4 Years

The Central Bank of Nigeria (CBN) said it has disbursed a total of N174. 48 billion through 19 financial institutions under its Anchor Borrowers Programme since 2015.

Speaking at the on-going Enugu International Trade Fair in Enugu on Friday, the Director, Corporate Communications Department of the bank, Mr Isaac Okoroafor said that the programme had supported 902, 518 farmers working with 194 anchor companies.

Okoroafor, who was represented by the Deputy Director of department, Mrs Veronica Always,  added that the scheme had so far created 2.8 million and 8.4 million direct and indirect jobs respectively.

He noted that  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.

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

While adding that 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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