Emefiele Urges Banks to Raise Agric Lending to 10%


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•FG promises strong economic recovery amidst COVID-19

By James Emejo, Folalumi Alaran in Abuja and Nume Ekeghe in Lagos

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday tasked the banking sector to consider an increase in the percentage of loans to the agriculture sector from the current four per cent to 10 per cent by 2024.

This is coming as the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, yesterday expressed confidence that the Nigerian economy “will bounce back strongly within the near term with the right policy responses to the multidimensional crises” caused by the COVID-19 pandemic.

Speaking yesterday at the opening ceremony of the 13th Annual Banking and Finance Conference, themed: “Facilitating a Sustainable Future: the Role of Banking and Finance,” which was organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja, Emefiele also disclosed…

Source: Thisday Newspaper