BusinessDay

CBN says it is slowing on interventions funds

...recovers N3.7trn

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.

Read also: Finance ministry, CBN, others to assist Reps; probe of unclaimed funds in commercial banks

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.

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