The Central Bank of Nigeria has
warned Deposit Money Banks participating in the disbursement of its
intervention funds to different critical sectors against charging above
the approved nine per cent interest rate.
The CBN Governor, Mr. Godwin Emefiele,
gave the warning during an interaction between the Presidential Task
Force on Agricultural Commodities and Production and young farmers.
The CBN Boss has said young farmers
will benefit of the CBN’s funding support through their banks, and has told
them to report any bank with more than nine per cent interest
on loans guaranteed by the apex bank.
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