Tag: Intervention Loans
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Beneficiaries complain as CBN set to recover COVID-19 intervention loans
The Central Bank of Nigeria (CBN), is set to recover loans it granted some categories of Nigerians to ameliorate harsh socio-economic realities. The loan initiative involved is the Targeted Credit Facilities (TCF), granted to some Nigerians in 2020 to cushion the economic effect of COVID-19.
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CBN reverses itself on 5% interest rate on intervention loans
As inflation continues to rise unabated across several advanced economies, the Central Bank of Nigeria has reversed its interest rate on intervention facilities from five per cent to nine per cent. This is according to a circular released on Wednesday August 17, signed by the director, financial policy and regulation department Chibuzo Efobi. “All intervention…