Nigeria: Non-Oil Exporters Query Intervention Fund, Want Grant Arrears

12 February 2016

With an outstanding debt of N109 billion under the suspended Export Expansion Grant (EEG) scheme, non-oil exporters have kicked against the N300 billion special intervention fund recently unveiled by the Central Bank of Nigeria (CBN), describing the action as improper for the Federal Government to propose loans when it still owes them.

The CBN had, in a communiqué on January 19, announced N300 billion export stimulation fund, which would be available for non-oil exporters at not more than nine per cent interest rate.

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