7-point agenda: CBN commits N1.25trn –Sanusi

The Central Bank of Nigeria (CBN) is committing not less than N1.25 trillion in addition to the overall implementation of the Federal Government master plan for infrastructural development under the government’s seven-point agenda to help address the problems posed by infrastructural decay and other issues in the country.

Sanusi Lamido Sanusi, governor of the apex bank, disclosed this in Katsina on Thursday at the graduation and annual lecture series of the Katsina Vocational Centre established by the retired Inspector General of Police, Alhaji M. D. Yusuf.
The CBN boss, who was the guest speaker at the event, in a paper entitled: Nigerian Youth: A Threat to National Economy, said the bank had established N500 billion Power Infrastructure and Aviation Fund, N200 billion Fund for refinancing/restructuring of banks’ existing loan portfolios to manufacturers, N200 billion Small and Medium Enterprises (SME) Credit Guarantee Scheme and N200 billion Commercial Agricultural Credit Scheme.

The bank had recently released N150 billion credit facilities to the manufacturers at a fixed rate of seven per cent through the Bank of Industry. Sanusi said: “The banking sector reforms is on-going while the Asset Management Corporation of Nigeria (AMCON) has been signed into law and will soon commence operations.” He gave assurance that all these were targeted at issues affecting the actual harnessing of the investment potentials of the economy and the creation of employment for the youths.

Story From ANDY ASEMOTA, Katsina
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