The Central Bank of Nigeria, CBN, has disbursed N185.172 billion intervention fund for the manufacturing sector to the Bank of Industry, BOI, for onward payment to participating banks.
The disbursement is from the N200 billion intervention funds approved for the manufacturing sector by the Federal Government.
According to the CBN, a total of 30 applications valued at over N222.50 billion were received.
Speaking at at roundtable on 2011 Nigerian Economic Road map, organised by the Lagos Chamber of Commerce and Industry, LCCI, CBN governor, Lamido Sanusi, said 516 projects, valued at N199.67billion or 98 per cent had been utilised by banks through the BOI to finance and restructure their outstanding manufacturing exposures.
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