CBN Raises Credit Facility For SMEs To N300bn, Disburses N149.21bn
The Central Bank of Nigeria (CBN) has announced its decision to increase the Targeted Credit Facility (TCF) for households and Small and Medium Enterprises (SMEs) from N150 billion to N300 billion.
This is as the apex bank has revealed that it had disbursed a total of sum N149.21 billion to SMEs and households across the country under the TCF.
According to a report from Punch, this disclosure was made by the CBN Governor, Godwin Emefiele, at a virtual seminar organized for finance editors and correspondents in Lagos and Abuja simultaneously.
Emefiele, who was represented by the apex bank’s Deputy Governor, Corporate Services, Edward Lametek, said the CBN had set out to alleviate the plights of households and business owners who have been negatively impacted by the Covid-19 pandemic and drive economic growth during this period.