CBN Recovers N3.7trn Intervention Funds

Beneficiaries of various Central Bank of Nigeria (CBN) intervention schemes have re-paid a total of N3.7 trillion out of the N9. 3 trillion disbursed in the last four years.

The Director of the Development Finance Department of the bank, Mr Yusuf Yila, disclosed this at a press briefing in Abuja, this morning.

According to him, a total of N5. 3 trillion of the intervention funds was not yet due for repayment.

He said that the apex bank would slow down intervention schemes, with it’s new move to curtail the inflationary trends.

Mr. Yila insisted that all beneficiaries of CBN intervention schemes must pay back their loans, as according to him, they were not grants.

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