CBN Unveils Guidelines for Long-term Credit to Agric, Manufacturing Sectors

The Central Bank of Nigeria (CBN) has underscored its intention to increase the flow of credit to the real sector of the economy, in order to consolidate and sustain the nation’s economic recovery.

To this end, the bank Thursday released the guidelines for its intervention in the sector.

Giving further clarifications on the guidelines, the Bank’s acting Director of Corporate Communications, Mr. Isaac Okorafor, said that the Bank hoped to achieve the flow of credit to the real sector of the economy as deposit money banks (DMBs) would henceforth be incentivised to direct affordable, long-term bank credit to the manufacturing, agriculture, as well as other sectors considered by the Bank as employment and growth stimulating.

Details later…