CBN gives out N8trn in interventions to private sector in last 5 years – Emefiele 

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The governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has revealed that the CBN had given out about N8 trillion in interventions to the private sector in the last five years.

Emefiele made this revelation while speaking at the end of the 291st Monetary Policy Committee, MPC, meeting in Abuja on Wednesday.

He said, “In the last four to five years, we have done about N8 trillion in interventions to the private sector of the economy. The loans have been granted for 10 years, with a two-year moratorium and at single digit”.

The CBN boss disclosed, however, that going forward, the apex bank would reduce its quasi-fiscal activities.

Meanwhile, as the Dangote Refinery set to deliver its first products in July, Emefiele said that the refinery would be persuaded to sell foreign exchange earnings to banks at a good rate.

Emefiele said his team would engage the promoter of the refinery, Alhaji Aliko Dangote, to ensure that Nigerians benefitted from the venture,…



Source: Vanguard Newspaper