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Financial institutions to pay 30% of amount requested from CBN’s N220bn MSME fund as collateral

...Remove provision of collateral on all intervention funds, says MFB operator ... NIFIs to access at 0%, on-finance to start-ups at 9%

Participating Finance Institutions (PFIs) are expected to provide 30 percent of the amount to be accessed from N220 billion Micro Small and Medium Enterprise Development Fund (MSMEDF), the Central Bank of Nigeria (CBN) said in the guidelines released on Tuesday. Operators in the Microfinance sub-sector yesterday called on the CBN to remove the provision of…

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