Vice President, Namadi Sambo has applauded the efforts and commitment of the Central Bank of Nigeria (CBN) towards the resuscitation of the Small and Medium Scale Enterprises in the country.

Describing the CBN Governor, Sanusi Lamido Sanusi, as "indefatigable", he said that the objective of the fund was key to the federal government's commitment to the realisation of Vision 20:2020 and Millennium Development Goals (MDGs).

In a keynote address at the formal signing ceremony of the disbursement of the N130 billion loans to SMEs and industries, he said that Sanusi "has proven himself as an agent of change."

He, however, pointed out that the N130 billion was part of the N200 billion intervention fund by the CBN, adding that the fund would improve liquidity in the financial system, improve credit to the real sector and intensify employment generation.

The VP further said that government was also intensifying efforts at improving the business environment through the provision of power, tax incentives, curbing smuggling and dumping activities.

Sambo urged the participating banks to fulfill their commitment of providing 50 per cent counterpart fund in order to make the fund more robust.

Also speaking, the Managing Director of Bank of Industry (BOI), Ms Evelyn Oputu, commended the initiative of the CBN under Sanusi for making efforts to unlock credit in the financial system. She said the initiative was novel in the history of monetary policy management in Nigeria, especially at a time of financial crisis characterised by the decline of asset value and other market contagious effects.