Central Bank of Nigeria (CBN) has established a N500 billion non-oil export stimulation facility as part of intervention programmes in the agriculture and manufacturing sectors to enable businesses to expand their scale of production. In a remark at the Zenith Bank’s 2021 export seminar on Tuesday, CBN Governor, Mr Godwin Emefiele, said the intervention was in addition to helping investors to meet growing domestic demand for goods while also providing goods for the export market. The N500 billion he explained is domiciled with the Nigerian Export-Import Bank (NEXIM). In addition, Emefiele encouraged said Nigerian banks, already playing a significant role in expanding across the Africa n continent to also leverage such presence to support Nigerian businesses seeking to expand into new markets in Africa, by providing trade facilities to those with strong potentials for growth. The 624 new cases reported between March 28 and April 3 is a reduction from the 849 recorded the previous week…CBN creates N500bn non-oil export stimulation facilityCBN creates N500bn non-oil export stimulation facility

Source: Nigerian Tribune April 20, 2021 18:33 UTC