CBN dismisses speculations on disbursement of N300B Real Sector Support Facility

Posted by News Express | 26 May 2015 | 3,068 times

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Contrary to speculations, the Central Bank of Nigeria (CBN) says it is currently appraising over 200 applications received by it in respect of the N300 billion Real Sector Support Facility (RSSF). 

A statement issued this afternoon in Abuja by Alhaji Ibrahim Mu’azu, the Director, Corporate Communications at the Apex Bank, disclosed that the policy objectives of the RSS Facility are to provide long-term, low-interest financing intervention in support of the real sector of the Nigerian economy to increase output, create jobs and conserve foreign exchange. 

Alhaji Mu’azu further stated that the appraisal of the applications by Nigerian Small and Medium Enterprises (SMEs) for the N300 billion RSS facility was still in progress in strict compliance with the eligibility criteria of the facility. 

He assured that recommendations would be made to management of the Bank for approval as soon as the appraisals were concluded, adding that disbursement would follow thereafter.

The CBN Spokesman therefore urged applicants for the RSSF to disregard speculations and exercise patience to enable the Bank conclude the appraisals.

•Photo shows CBN Governor Godwin Emefiele.

Source: News Express

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