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    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

    Student Loan Act: How to apply for the loan, all you need to know

    The increased prices of driver’s licenses, number plates set to take effect

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Trump bans citizens of 12 countries from entering the U.S, full list

    France launches mandatory online visa appointments for travelers

    France launches mandatory online visa appointments for travelers

    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Sovereign Trust Insurance Plc grows Profit after tax by 43%  in Q1 2021

    Sovereign Trust Insurance Plc appoints Abimbola Oguntunde as New Board Chairman

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank to exit CBN forbearance restriction end of June, confident in dividend payments

    FY 2020: FCMB Group Plc gross earnings, profit, assets see double-digit growth rates

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    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    Renaissance Capital names banks affected by CBN’s dividend payout suspension

    Dangote Refinery further reduces Diesel and Aviation fuel prices

    Dangote Petroleum Refinery to begin distribution of PMS and Diesel nationwide

    United Capital Plc receives FMDQ approval to increase size of Commercial Paper programme

    United Capital Group expands into Francophone West Africa

    List of Dividends announced in 2024, qualification and payment dates

    Cornerstone Insurance Plc to pay 27 kobo final dividend for 2024 FY

    Legend Internet Plc reports N32.9 million profit for Q1 2025

    Legend Internet Plc reports N32.9 million profit for Q1 2025

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    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

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    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

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CBN to Integrate Non-Interest Window in its Loans to MSMEs and Households

Over 1.1 million farmers, cultivating over one million hectares of farmland, are expected to benefit from the loans

Thursday, 18 June 2020, 8:21 pm
in Economy, Policies
0
CBN to Integrate Non-Interest Window in its Loans to MSMEs and Households
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The Central Bank of Nigeria (CBN) in a statement on Thursday revealed that it has launched a framework for the integration of non-interest window in all its intervention programmes.

These invention schemes by the apex bank are directed towards providing support for Micro, Small and Medium Enterprises (MSMEs) and households to mitigate the damaging impact of Covid-19 pandemic in the country.

The new framework for the non-interest window is particularly aimed at “the Anchor Borrowers’ Programme (ABP) and the Targeted Credit Facility (TCF) to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.

particularly the Anchor Borrowers’ Programme (ABP) and the Targeted Credit Facility (TCF) to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.

— Central Bank of Nigeria (@cenbank) June 18, 2020

Read also; Nigeria Records the Highest Inflation in over Two Years

The Anchor Borrowers’ Programme (ABP) which was established on November 17, 2015 is intended to create a linkage between large companies involved in the processing and small holder farmers (SHFs) of the required key agricultural commodities.

The aim is to increase agricultural output and significantly improving capacity utilization of processors. Other objectives include: increase banks’ financing to the agricultural sector, to reduce agricultural commodity importation and conserve external reserves among others

The targeted commodities under the programme are; Cereals (Rice, Maize, wheat etc., Cotton, Roots and Tubers (Cassava, Potatoes, Yam, Ginger etc.), Sugarcane, Tree crops (Oil palm, Cocoa, Rubber etc.), Legumes (Soybean, Sesame seed, Cowpea etc., Tomato, Livestock (Fish, Poultry, Ruminants etc.)

The loan is targeted at smallholder farmers engaged in the production of identified commodities across the country.

CBN on Tuesday 9 June, said it would fund 1.6 million farmers across the country in the 2020 wet season. through its Anchor Borrowers Programme (ABP).

Read also; CBN to Provide up to N500 Mn for Nigerian Vaccine, Drugs and Herbal Medicines

This was disclosed by the CBN’s Director, Development Finance Department, Yila Yusuf, during the flag-off of Farm Inputs Distribution for cotton farmers for the 2020 planting season in Kwali, Abuja.

CBN in March 2020, introduced the N50 billion Targeted Credit Facility (TCF) as a stimulus package to support households and micro, small and medium enterprises (MSMEs) affected by the COVID-19 pandemic.

According to the statement released by the CBN, the bank “earmarks N432bn to fund the value chains of nine commodities in the 2020 wet season farming. CBN is committed to aggressively fund its agricultural programmes and spur farmers along select crop value chains to prevent the country from sliding into a recession.’

“Over 1.1 million farmers, cultivating over one million hectares of farmland, are expected to benefit from the loans that will help to produce a collective output of 8.3 million metric tons”

Written by;

Ifunanya Ikueze

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