The Central Bank of Nigeria has announced N50 billion special mechanism funds to revive the country’s ailing textile industry.
The funds, to be administered by the Bank of Industry at a 4.5 per cent interest rate, will use any of the CBN-approved non-interest financing instruments for refinancing of projects and working capital for beneficiaries.
CBN director of financial policy and regulation department Kelvin Amugo said that the seed fund, which is a one-off intervention, will terminate by December 31, 2025, with the maximum financial amount pegged at N2 billion for a single obligor for new facilities and N1 billion for refinancing.
The Central Bank of Nigeria has announced N50 billion special mechanism funds to revive the country’s ailing textile industry.
The funds, to be administered by the Bank of Industry at a 4.5 per cent interest rate, will use any of the CBN-approved non-interest financing instruments for refinancing of projects and working capital for beneficiaries.
CBN director of financial policy and regulation department Kelvin Amugo said that the seed fund, which is a one-off intervention, will terminate by December 31, 2025, with the maximum financial amount pegged at N2 billion for a single obligor for new facilities and N1 billion for refinancing.
The Central Bank of Nigeria has announced N50 billion special mechanism funds to revive the country’s ailing textile industry.
The funds, to be administered by the Bank of Industry at a 4.5 per cent interest rate, will use any of the CBN-approved non-interest financing instruments for refinancing of projects and working capital for beneficiaries.
CBN director of financial policy and regulation department Kelvin Amugo said that the seed fund, which is a one-off intervention, will terminate by December 31, 2025, with the maximum financial amount pegged at N2 billion for a single obligor for new facilities and N1 billion for refinancing.
The Central Bank of Nigeria has announced N50 billion special mechanism funds to revive the country’s ailing textile industry.
The funds, to be administered by the Bank of Industry at a 4.5 per cent interest rate, will use any of the CBN-approved non-interest financing instruments for refinancing of projects and working capital for beneficiaries.
CBN director of financial policy and regulation department Kelvin Amugo said that the seed fund, which is a one-off intervention, will terminate by December 31, 2025, with the maximum financial amount pegged at N2 billion for a single obligor for new facilities and N1 billion for refinancing.
The Central Bank of Nigeria has announced N50 billion special mechanism funds to revive the country’s ailing textile industry.
The funds, to be administered by the Bank of Industry at a 4.5 per cent interest rate, will use any of the CBN-approved non-interest financing instruments for refinancing of projects and working capital for beneficiaries.
CBN director of financial policy and regulation department Kelvin Amugo said that the seed fund, which is a one-off intervention, will terminate by December 31, 2025, with the maximum financial amount pegged at N2 billion for a single obligor for new facilities and N1 billion for refinancing.
The Central Bank of Nigeria has announced N50 billion special mechanism funds to revive the country’s ailing textile industry.
The funds, to be administered by the Bank of Industry at a 4.5 per cent interest rate, will use any of the CBN-approved non-interest financing instruments for refinancing of projects and working capital for beneficiaries.
CBN director of financial policy and regulation department Kelvin Amugo said that the seed fund, which is a one-off intervention, will terminate by December 31, 2025, with the maximum financial amount pegged at N2 billion for a single obligor for new facilities and N1 billion for refinancing.
The Central Bank of Nigeria has announced N50 billion special mechanism funds to revive the country’s ailing textile industry.
The funds, to be administered by the Bank of Industry at a 4.5 per cent interest rate, will use any of the CBN-approved non-interest financing instruments for refinancing of projects and working capital for beneficiaries.
CBN director of financial policy and regulation department Kelvin Amugo said that the seed fund, which is a one-off intervention, will terminate by December 31, 2025, with the maximum financial amount pegged at N2 billion for a single obligor for new facilities and N1 billion for refinancing.
The Central Bank of Nigeria has announced N50 billion special mechanism funds to revive the country’s ailing textile industry.
The funds, to be administered by the Bank of Industry at a 4.5 per cent interest rate, will use any of the CBN-approved non-interest financing instruments for refinancing of projects and working capital for beneficiaries.
CBN director of financial policy and regulation department Kelvin Amugo said that the seed fund, which is a one-off intervention, will terminate by December 31, 2025, with the maximum financial amount pegged at N2 billion for a single obligor for new facilities and N1 billion for refinancing.
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