CBN To Ease Access To Funds For SMEs

Godwin-Emefiele-Governor-of-Central-Bank-NigeriaThe Central Bank of Nigeria (CBN) has promised to streamline logistics and mechanisms to ease access to funds for the development of the Small and Medium Scale Enterprise (SMEs).

The Governor of the apex bank, Mr Godwin Emefiele, who announced the plan on Tuesday, said that of the 220 billion Naira earmarked for the sector in 2014 only about 80 billion Naira had been accessed so far.

He gave the update during the fact finding mission of the Presidential Task Force on Agricultural Commodity and Production led by the Governor of Kebbi State, Abubakar Bagudu.

Also at the meeting was the Governor of Ogun State, Mr Ibikunle Amosun, who asked for more funds for cooperative societies in the agricultural sector to grow the state’s economy.

Earlier, the task force was taken round some of the farms in the state, where the farmers laid bare their demands, with access to financing topping their list.

The coordinator of Eriwe Fish Farm Village, Professor Olanipekun Alausa, spoke on behalf of some fish farmers in the state before they moved from farm to farm in Ijebu Ode, Kotopo Greenhouse Farm in Abeokuta and Eweje Farm Settlement.

The task force members were conducted round the farms where the CBN governor assured the farmers of easy access to SMEs funds.

The Minister of Agriculture, Audu Ogbeh, also reeled out some of the plans of the Federal Government for the sector for cooperative societies in the state.

Findings by this task force is expected to form the fulcrum for the extended Anchor Borrowers Programme of the Federal Government for the state.

CBN Partners Institute To Empower Youths In Benue State

CBN, Youths, BenueThe Central Bank of Nigeria (CBN) has collaborated with the National Institute of Hospitality and Tourism to train 1,000 Small and Medium Scale Enterprise (SME) students per session in Benue State.

The institute said that the training is aimed at enabling the beneficiaries have access to the CBN Anchor Borrowers’ Funds.

The Director-General of the Institute, Chika Balogun and the CBN Programme Director on Enterprise Development, Lucky Omonya, disclosed this to reporters in Makurdi, the Benue State capital.

It was during the working visit of Governor Samuel Ortom to the CBN North-central EDC workshop in the capital city, to inspect the ongoing renovation work at the centre and the duo expressed satisfaction with the Governor’s visit.

On his part, Governor Ortom commended the collaboration between the federal agencies and restated his commitment to the development of the centre.

He promised to pay up existing performance certificates of contractors handling the rehabilitation work.

The Governor described the development as a huge relief on job creation and self-reliance for the teaming unemployed youths in the state.