Sanusi in Edo berates SMEs for not accessing N220b intervention fund

By The Citizen

The Governor of Central Bank of Nigeria, Sanusi Lamido Sanusi, has lamented the failure of the Small and Medium Enterprises (SMEs) in Edo, to access the N220 billion intervention fund floated by government.

Sanusi expressed his concern at the Government House, Benin on Friday when he paid a condolence visit on Edo Government, on the death of wife of Oba of Benin, Esther Erediauwa.

He said that the high interest rate on loans prevented the enterprises from accessing the loans, noting that high interest loan way not a way of alleviating poverty.

He explained that there were 30 micro finance banks across the country mandated to grant loans to the SMEs at low interest rates.

The CBN governor said that he fund was targeted at the most excluded segment of the society, adding that 60 per cent of it was dedicated to women.

Sanusi who also condoled with Gov. Adam Oshiomhole on the death of his wife, noted that he had a close relationship with the palace and treasured the memories of  the queen mother.

Responding, Oshiomhole thanked the CBN governor for the visit, adding that the death of the queen mother was painful.

The governor described the late queen as a mother who showed interest in the development of the state.

He also commended the CBN boss for his repositioning of banks in the country to address in the interest of the masses.

He noted that poverty in the country was as a result of wrong policies, adding that there was the need for deliberate laws to address the menace.