Nigeria’s apex financial institution, the Central Bank of Nigeria (CBN) has so far recovered N3.7 trillion intervention funds.
The amount is out of the N9.3 trillion disbursed by the CBN in various intervention schemes in the last four years.
The Director of Development Finance Department of the bank, Mr. Yusuf Yila disclosed this at a press briefings in Abuja on Thursday.
According to him, a total of N5.3 trillion of the intervention funds was not yet due for repayment, adding that the apex bank would slow down intervention schemes, with it’s new move to curtail the inflationary trends.
Mr Yila insisted that all beneficiaries of CBN intervention schemes must pay back their loans, as according to him, they were not grant’s.
