The apex bank stated that N5tn was not yet due.
Dr. Yusuf Yila, the CBN’s director of development finance, revealed this to press on Wednesday in Abuja and noted that manufacturers received the largest share of the budget, at 31%.
“Some of the loans are suspended. Agriculture has made way for manufacturing. The intervention has so far benefited exports, manufacturing, agriculture, health, and SMEs, he said.
He noted that intervention funds had been slowed down in the bank’s efforts to rein in inflation.
CBN’s Intervention Funds Causing Inflation, According To World Bank
He further said that N1tn had been disbursed under the Anchor Borrowers Programme while N400bn had been recovered.
He warned debtors to repay as the bank had collaborated with the Economic and Financial Crimes Commission to set up a desk with a view to recovering the loans.
“Any person who borrowed from us will pay back. We have recovered from states and we debit their FAAC. Every single loan taken from our development finance will be returned.”\
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