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CBN yet to disburse N300bn real sector fund

27 May 2015, 07:45

Abuja - The Central Bank of Nigeria says it is yet to start the disbursement of the N300 Billion Real Sector Support Facility (RSSF).

This is contained in a statement issued by Alhaji Ibrahim Mu'azu, CBN's Director, Corporate Communications, on Tuesday in Abuja.

"We are appraising the over 200 applications received in respect of the N300 billion Real Sector Support  Facility (RSSF)," it said.

It added that the appraisal of the applications by Nigerian Small and Medium Enterprises for the N300 billion facility was still in progress in strict compliance with the eligible criteria for the fund.

Also read: Unpaid salaries: Workers declare indefinite strike in Cross River

According to the statement, as soon as the appraisals are concluded, recommendations will be made to management of the bank for approval and subsequent disbursement.

"Applicants are also urged to exercise patience to enable the bank conclude the appraisals," it said.

The statement noted that the policy objectives of the facility was to provide long term and low interest financing intervention in support of the real sector of the Nigerian economy.

It further said the intervention would increase output, create jobs and conserve foreign exchange.


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