With the Central Bank of Nigeria (CBN) ending all its development finance interventions by the end of this year, more than 4.6 million farmers along with over 1,358 projects that had benefitted from the various initiatives will have to commence the repayment of the over N5.25 trillion loans given out by the apex bank over the years, LEADERSHIP checks reveal.
CBN governor, Dr Olayemi Cardoso, had stated his plan to deviate from the path of development finance interventions which his predecessors toed, stating that the apex bank will, under his leadership, focus on monetary policy and advisory roles. Cardoso was brought in as the governor of the CBN by the President Bola Ahmed Tinubu administration after the suspension and subsequent prosecution of the former governor, Godwin Emefiele, as well as the removal of the acting governor, Adebisi Shonubi. Before Cardoso’s appointment, the CBN, under the previous governors, had embarked on development finance programmes and policies, one of which was the removal of some items from the eligibility list for foreign exchang
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