CBN to review guidelines for accessing N220bn MSME Development Fund

The Central Bank of Nigeria (CBN) says it will soon review the guidelines for accessing the N220 billion Micro, Small and Medium Enterprises (MSME) Development Fund to ensure easy access.

The Acting Director, Development Finance Department of CBN, Mr Mudashir Olaitan, said this at a workshop organised by the Nigeria Deposit Insurance Corporation (NDIC) for business editors and finance correspondents in Kastina.

The theme of the workshop is: “Recent Development in the Nigeria Banking System”.

Olaitan, who spoke on “Framework for the N220 billion MSMEs Development Fund”, said that five commercial banks had already signed Memorandum of Understanding with the CBN on the way forward.

According to him,

World Bank unveils new strategy for growth, poverty reduction

The World Bank Group has launched the new Country Partnership Strategy, CPS, aimed at helping the Federal and State Governments boost development and reduce poverty.

world-bankThe World Bank said the new strategy was deemed necessary, following the recent Gross Domestic Products, GDP, rebasing exercise in which now puts Nigeria as Africa’s largest economy.

It added that the new strategy came at an opportune time just as Nigeria is redoubling efforts to tackle critical development challenges.

And is committing itself to lift major constraints that are hindering it from achieving broad-based, inclusive economic growth and poverty reduction goals.

According to the bank,