The Central Bank of Nigeria’s Intervention Funds Programme, totaling N10.3 trillion, has shown a repayment rate of 75.8%. However, concerns arise as N193 billion of the disbursed loans have been declared lost, and another N418.9 billion remains doubtful.
A detailed report breaks down the bank’s intervention funds over the years, shedding light on the program’s successes and challenges. Despite criticism from the apex bank Governor, Yemi Cardoso, regarding the implementation of intervention funds under Emefiele’s leadership, some sources within the bank argue that certain claims were made without considering the programs’ impact. Officials highlight that loans funded crucial projects like the Blue and Redline Rail projects, fertilizers for farmers, and food released from the apex bank’s strategic reserve. They also suggest that the current tepid economic growth could have been worse without these intervention funds.While acknowledging the successes, it’s evident that challenges persist within the Central Bank’s Intervention Funds Programme.
Source: Nairametrics