The Central Bank of Nigeria says it has commenced deductions from accounts of defaulters under its development finance interventions to recover outstanding loans.
Although he did not mention the debtor states, Yila said state governments’ monthly federation account allocation committee accruals are already being debited directly every month.According to him, the Anchor Borrowers Programme and Commercial Agric Credit are part of the intervention programmes.Advertisement
“If a state government has taken N1 billion and is already in default, over six months, we debit them N150 million every month. So, we’ve started that programme.
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