Central Bank of Nigeria (CBN ) said on Thursday that it had earmarked N220 billion for disbursement to operators of Small and Medium Enterprises (SMEs) in the country.
The Controller of the bank in Sokoto State, Mr Mohammed Idris, said this at the inauguration of the state chapter of the National Association of Small and Medium Scale Enterprises.
Idris, who was represented by Alhaji Mainasara Mohammed, the Head, Debt Unit of the bank, said 60 per cent of the funds had been dedicated to women and the the remaining 40 per cent to other interested persons.
“CBN is ready to collaborate with other entrepreneurs and cooperatives across Nigeria through various financing schemes such as Agricultural Credit Guarantee Schemes.
“These are part of efforts to further boost the socio-economic development of Nigeria and curb the menace of poverty and unemployment.’’
In his remarks, Governor Aliyu Wamakko, restated the determination of his administration to assist traders to boost their activities.
Wamakko, who was represented by the Commissioner for Commerce, Alhaji Aliyu Achida, appealed to wealthy individuals to establish more small scale industries.
The National President of the association, Alhaji Garba Ibrahim, applauded Wamakko for the assistance given to traders.
On his part, Alhaji Ibrahim Dasuki, the chairman of the association in the state, however, called for a pragmatic approach to the establishment and sustenance of small and medium enterprises in the country.
