The Deputy Director, Central Bank of Nigeria Osita Nwanisobi says Nigeria can achieve economic traction if artisans, farmers, traders and other forms of Micro Small and Medium Enterprises are brought to the economic space.
Nwanisobi spoke to journalists after meeting with the Bayelsa Deputy Governor to discuss the CBN’s MSMEs Development Fund as part of its analysis on how far the state has fared.
TVC’s Ovieteme Geore reports that the first tranche of N800million (eight hundred million naira) was given in 2015 and the second of N700million (seven hundred million naira) was disbursed few months ago from the Central Bank of Nigeria’s Micro Small And Medium Enterprises.
Osita Nwanisobi was in Bayelsa to conduct an analysis of the 1.5 billion naira already disbursed.
The CBN launched the MSME Development Fund on August the 15th, 2013 with a share capital of 220 billion naira accessible by states and participating financial institutions.