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CBN’s N50bn COVID-19 stimulus fund falls short against familiar foes

…As less than 3% of SMEs receive loans …Stakeholders suggest ways to increase impact of fund

A well-meaning initiative by Nigeria’s central bank (CBN) to soften the blow of the COVID-19 pandemic on households and small businesses has come up against all too familiar foes in dodgy execution and lack of adequate transparency, with several intended beneficiaries claiming the scheme has eluded them. The CBN set up a N50 billion Targeted…

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