CBN’s intervention funds fuelling inflation, World Bank warns Nigeria

According to the global bank, the CBN’s continued provision of subsidised funding to certain sectors has to slow down as it is undermining the ability of commercial banks to lend on a risk-adjusted pricing basis. It added that the apex bank’s disbursement in the private sector as its share of private sector credit rose from 6.5 per cent in 2019 to 10 per cent in 2021.

It disclosed this in its ‘Nigeria Development Update : The Continuing Urgency of Business Unusual.’ It said, “The CBN’s continued provision of heavily subsidised funding to certain sectors undermines commercial banks that lend on a risk-adjusted pricing basis and needs to be dialled down. “CBN disbursements are growing in funding the private sector, with the CBN’s share of private sector credit rising from about 6.5 per cent at end-2019 to 10 per cent by end-2021. Although some of the COVID-related tools deployed by the CBN are being phased out , the Central Bank has introduced new intervention facilities without a publicly available evaluation of their impact.

“The CBN also stepped up disbursements and kept the monetary policy rate unchanged at 11.5 percent from September 2020 until May 2022. On March 15, 2022, the CBN extended the five percent per annum interest rate on its development finance intervention funds for one more year through end-February 2023.

This man is the worst CBN governor

ayemojubar Godwin has been printing money like posters.😭😭😭

where is the intervention funds i laugh 😆 in spanish finds we can’t see to access, ok you mean the stollen funds ?

No employment, no intervention for the poor, graduates roaming the streets 🤔 . IMF what is your mission in Africa? To destroyed it unlike you did in Lybia ?

Which inflation, the Nigerian one or the global one?

This man is the real devil.. we wait till 2023 Election 🗳.. 😡😡😡😡😡😡 LP PeterObi

Any how they wan do am, increasing fuel price won't cut it, the anguish the common man will face Will be overwhelming, if them like make them use our annual budget pay am bastards

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