Brand New Single from Miracle Nwachinemerem titled Do Me Better produced by Mr. Kezzy.
CBN, banks bicker over slow disbursement of SMEs funds
The Central Bank of Nigeria (CBN) and lenders involved in the disbursement of N220 billion Small, Medium Enterprises (SMEs) funds to small businesses have traded blames over the slow pace of the disbursement of the funds. The Group Head, Specialised SMEs of Fidelity Bank, Mr Ndubuisi Onuoha blamed the CBN for the slow pace of disbursement of the funds when asked by a participant why the bank was yet to fund his business over a year after meeting all the requirements. “Fidelity Bank has done over N3billion disbursements; CBN is slowing things down; there is close to N2 billion pending with the CBN; we are doing everything to get the funds for SMEs. The problem is not with Fidelity Bank, we are only a conduit for passing the money to SMEs,” he said. Onuoha spoke in Abuja during the third stream training of SMEs yesterday. In its reaction, the CBN dismissed the allegation. Its spokesman, Mr. Isaac Okorafor said it is “not true. No bank will disburse to a project that is not
