Mr Yusuf Yila, Director, Development Finance Department of the Central Bank of Nigeria (CBN), has said that beneficiaries of the bank’s intervention schemes have re-paid a total of N3.7 trillion out of the N9.3 trillion disbursed in the last four years.
Mr. Ayila disclosed this at a press briefing to provide further insights into the bank’s decision to raise interest rate to 15.5 percent in Abuja on Wednesday.
He said a total of N5. 3 trillion of the intervention funds was not yet due for repayment.
According to him, the apex bank would slow down intervention schemes, with it’s new move to curtail the inflationary trends.
The director noted that all beneficiaries of CBN intervention schemes must pay back their loans, as according to him, they were not grants
