The Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS) has been re-echoed by the Branch Controller, Central Bank Of Nigeria, Mrs Daphne Ajuma Madojemu, that the initiative is targeted at start-ups and the expansion of established companies as well as the reviving of ailing companies to enhance job creation and agribusiness for a sustainable economy.
Speaking recently at the 2018 Ibadan Bankers Committee end of year dinner held at Waniq Event Centre, Ibadan, Madojemu reaffirmed that AGSMEIS is an initiative of Bankers committee to support and complement the Federal Government’s efforts at promoting Agribusiness/Small and Medium Enterprises.
She explained that the initiative requires all Deposit Money Banks to set aside five per cent (5%) of their annual profit after tax (PAT) to support and sustain the management of the initiative.
While commending the existing mutual support and collaboration between the CBN and DMB, Mr Madojemu enjoined all stakeholders to intensify efforts with the monetary and fiscal authorities so as to fully influence the return of Nigeria to the path of growth.
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According to the Branch Controller, Central Bank Of Nigeria, Mrs Madojemu “ the CBN Ibadan has continuously worked towards ensuring prompt and excellent banking and other financial services to the government and the entire people of Oyo State.
CBN has also worked immensely through the collaborative support of the Deposit Money Banks (DMB) in achieving a clean notes policy within Oyo State and Nigeria.
She said the bank in the current year has been able to increase Nigeria’s foreign reserves to $43.23 billion as at the end of December 2018, adding “We are going to continue to avoid situations in which speculators and round trippers attempt to plunder our reserves.
“also in the year 2018, the bank was also able to surmount the management of the inflationary pressure and also sustain the MPC rates without much variation in its indices.
and then