has called for the repatriation of foreign exchange earnings through official channels to ease the pressure on the naira.
Ezulu told the Organised Private Sector to take advantage of the various intervention schemes of the CBN through the Bank of Industry , Development Bank of Nigeria , and commercial banks to boost their output.“When you talk about financing small businesses, the CBN has done a lot of funding to the sector alluding to trillions of naira and has established two entities for this purpose,” the CBN deputy director said.
“The manufacturing sector should put pressure on the Bank of Industry and Development Bank of Nigeria to source funds, and when we see a lot of pressure from those two entities, the CBN instead of going through commercial banks would push those funds to those two entities rather than going to the commercial banks who would give double-digit loans.
On his part, Rasheed Bolarinwa, ACAMD president, said the banking sector and the OPS were the main drivers of the nation’s economy.
And that will help the matter, significantly.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: thecableng - 🏆 2. / 80 Read more »
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Source: thecableng - 🏆 2. / 80 Read more »