FG Will Review N500bn Development Banks’ Loan Disbursement Criteria, Says Finance Minister

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Sunday Aborisade in Abuja

The Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed has said the federal government would review the criteria currently being used by development banks in the country to disburse loans to medium and small scale enterprises (MSMEs) in the country in order to ensure geographical spread.
The Minister stated this yesterday when she appeared before the Senate ad-hoc committee set up to investigate the alleged uneven disbursement of the N500 billion federal government loans currently being given out the MSMEs by the development banks.

The Senate President, following a motion by Senator Ali Ndume, had set up an ad hoc panel chaired by Senator Sani Musa to investigate the matter.
Ndume had claimed that the South-west geopolitical zone in the country, especially Lagos State, had the largest number of the loans’ beneficiaries.
The panel had to summon the chief executive officers of the affected banks like the Development Bank of…



Source: Thisday Newspaper