CBN Distributes N69 Billion For COVID-19 Intervention SMEs, Households

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CBN Distributes N69 Billion For COVID-19 Intervention SMEs, Households

The Central Bank of Nigeria has said that it has disbursed N69 billion out of the N100bn set aside for COVID-19 intervention to Small bussinesses and households

CBN Governor Godwin Emefiele disclosed this during the Chartered Institute of Bankers of Nigeria 13th conference which opened in Abuja on Tuesday.

Giving an update on the CBN interventions, Emefiele said the creation of N100bn SME and Household intervention fund was received with excitement by Nigerians.

He said they initially planned for N50bn to be disbursed but has to increase the figure to N100bn to enable governmen need by households impacted by the pandemic

He added that the CBN took a decision to increase the size of that intervention fund from N50bn to N100bn. And today close to N69bn of that loan has been disbursed to over 140,000 households and businesses.

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