The decision to commence the disbursement of funds under the initiative was made at the end of the committee’s meeting held at the CBN headquarters in Abuja.
The CBN had stated that under the CIFI loan initiative, beneficiaries could get up to N500m loans at nine per cent interest rate.CBN noted that the entrepreneurs that could apply include those involved in Fashion Designing, Information Technology, Movie production, Movie distribution, Music and Software engineering.
He was accompanied to the media briefing by the Managing Director, FSDH Quest Merchant Bank, Kayode Akinkugbe, MD Ecobank, Patrick Akinwuntan, MD FSDH Merchant Bank, Hamda Ambah, Citibank MD, Akin Dawodu and Director of Corporate Communications at the apex bank, Isaac Okorafor.
What I want to know though is why cenbank feels all the Fashion Industry needs is funds to pay our rent. I just don't get it. When we need funds to automate our processes, expand, buy more machines, etc. Except I'm missing something...