CBN Yet to Disburse N300 billion RSSF

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Godwin Emefiele, governor, CBN

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CONTRARY to speculations, the Central Bank of Nigeria, CBN, is currently appraising more than 200 applications it received in respect of the N300 billion Real Sector Support Facility, RSSF.

Ibrahim Mu’azu, director, corporate communications, CBN, on Tuesday, May 26, disclosed that the policy objectives of the RSSF are to provide long-term, low-interest financing intervention in support of the real sector of the Nigerian economy to increase output, create jobs and conserve foreign exchange.

“The appraisal of the applications by Nigerian SMEs for the N300 billion RSS facility is still in progress in strict compliance with the eligibility criteria of the Facility,” Mu’azu said in a statement made available to Realnews this evening.

Mu’azu assured that recommendations would be made to management of the bank for approval as soon as the appraisals were concluded, adding that disbursement would follow thereafter. He therefore urged applicants for the RSSF to disregard speculations and exercise patience to enable the Bank conclude the appraisals.

— May 26, 2015, @ 6.30 GMT

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