Director of Development Finance, Central Bank of Nigeria (CBN), Dr Yusuf Yila, has disclosed that the bank lent N9.3 trillion to businesses.
Of the loaned amount, he said N3.7 trillion had been recovered, while N5 trillion was not yet due.
Yila who disclosed this to journalists on Wednesday in Abuja, said manufacturers got the largest share, representing 31 per cent of the fund.
He further said that N1trillion had been disbursed under the Anchor Borrowers Programme out of which N400 billion had been recovered.
“Some of the loans are under moratorium. We have moved from agriculture to manufacturing. So far, manufacturing, agriculture, health, exports and SMEs, have benefitted from the intervention,” he said.
The director further noted that intervention funds had been slowed down in the bank’s efforts to rein in inflation.
He advised debtors to repay the loans as the bank was collaborating with the Economic and Financial Crimes Commission (EFCC) to recover the loans.
“Any person who borrowed from us will pay back. We have recovered from states and we debit their FAAC. Every single loan taken from our development finance will be returned,” Yila added.
