CBN injects N5bn for non-oil exports


A fresh vista for the growth of the non-oil sector and exports may have been opened, as the Central Bank of Nigeria said a maximum financing of project in the sector would now be N5 billion per project under the Non-Oil Export Stimulation Facility (NESF).

The amount would represent 70 per cent of the verifiable total cost of the project, with one-year moratorium and a tenor of up to 10 years, not exceeding December 31, 2027 and at an all-inclusive interest rate of nine per cent yearly.

For entrepreneurs to access the fund, which is available in race against 2027 deadline, the apex bank yesterday, unveiled a guideline for the intervention.

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