3.7trn intervention funds recovered by CBN

A total of N3.7 trillion out of the N9. 3 trillion disbursed in the last four years have been refunded by beneficiaries of various Central Bank of Nigeria (CBN) intervention schemes.

The Director of Development Finance Department of the bank, Mr. Yusuf Yila, disclosed this at a press briefings in Abuja, this morning.

According to,  a total of N5. 3 trillion of the intervention funds was not yet due for repayment.

He said that the apex bank would slow down intervention schemes, with it’s new move to curtail the inflationary trends.

Mr Yila insisted that all beneficiaries of CBN intervention schemes must pay back their loans, as according to him, they were not grant’s.

(Vanguard)