The Central Bank of Nigeria (CBN) on Wednesday said it is slowing down on its intervention funds.
Meanwhile, the apex bank said it has recovered N3.7 trillion out of N9.3 trillion given out as intervention funds.
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This was disclosed by the CBN during a zoom meeting on facts behind the decisions, chaired by Hassan Mahmud, director, the monetary policy department.
Yila Yusuf, director of development finance department of the CBN, said the banking sector regulator is working with the banks and The Economic and Financial Crimes Commission (EFCC) to recover the remaining loans.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
