banking

COVID-19 Intervention Fund: CBN disburses N107.45 billion to beneficiaries

CBN Governor Godwin Emefiele

 

 

 

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The  Central Bank of Nigeria (CBN) has disbursed the total sum of N107.45 billion to beneficiaries from the N1.15 trillion Covid-19 Pandemic Intervention Funds so far, according to data provided by the bank from the Monetary Policy Meeting for May 2020.

 

The Bank also announced that under the N100 billion Healthcare Sector fund, N10.15 billion has been disbursed and approved for establishments of advanced diagnostics and Health Centres and expansion of Pharmaceutical plants for essentials drugs and intravenous fluids.

 

The CBN also revealed that a total sum of  N93.2 billion has been disbursed under the Real Sector Support Fund to boost local manufacturing, which consists of 44 Greenfield and Brownfield projects.

 

Furthermore, the Bank has approved N10.9 billion to 14,331 beneficiaries under the N50 billion Targeted Credit Facility for Households and SMEs, out of which N4.1 billion has been disbursed to 5,868 successful beneficiaries.

 

The Central Bank Governor, Godwin Emefiele stated that the bank will also encourage Banks to offer and disburse the funds to the sectors that are priority to the economic to aggregate demand and create jobs.

 

About the author

Joseph Chukwuma Oputa

Joseph Chukwuma Oputa is the Managing Editor of Maslow Businessnews and Physicians News publications published by Maslow Business News Publications, Lagos, Nigeria.

Joseph Oputa is a proud Alumnus of the prestigious Nigerian Institute of Journalism, Lagos and Federal Polytechnic, Bida, Niger State.

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