AS at June 2017, the sum of N79.56 billion had been disbursed to 11 banks for 23 projects compared to N35.99 billion disbursed to 13 banks for 39 projects in the preceding period. This reflected an increase of N43.57 billion and a decrease of 16 projects.
The Financial Stability Report of the Central Bank of Nigeria (CBN) for the period ended June 2017, released last week by the apex bank showed that N472.98 billion used for 513 projects had been disbursed through the Commercial Agriculture Credit Scheme (CACS) since its inception.
According to the report, the bank has disbursed a total sum of N1.181 trillion through its several intervention schemes in an effort to help grow the Nigerian economy which is recovering from a recession, triggered by a drop in oil income.
The CBN said the amount represented the total monies that had been disbursed as at June 2017, through its several intervention schemes.
Similarly, the Central Bank of Nigeria in its resolve to guarantee liquidity in the market injected the sum of $355.43 million into the Retail Secondary Market Intervention Sales on Friday.
Figures obtained from the bank on Friday revealed that the injection was to meet requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.
The bank’s Acting Director, Corporate Communications Department, Isaac Okorafor, confirmed the figures, reiterating that the CBN interventions in the market were aimed at sustaining liquidity in the market as well as boosting production and trade.