CBN To Improve Access To Credit For Households, Businesses In 2022

The Central Bank of Nigeria (CBN), says the banking sector will increase access to loans for Nigerian households and businesses in 2022.

CBN Governor, Mr. Godwin Emefiele who disclosed this in a statement emphasized the need for all stakeholders to work to build a more resilient economy.

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According to him, the objective of the central bank in 2022 would be to increase access to loans for households.

“The policy focus of the bank for 2022 is with a pledge to sustain improved access to finance and credit for households and businesses, mobilize investment to boost domestic productivity, enable faster growth of non-oil exports, and support employment generating activities,” Emefiele said.

The CBN governor noted that one of the vital lessons learned from the COVID-19 outbreak was the need to make conscious measures to diversify Nigeria’s economic base.

“Proactive steps on the part of stakeholders in the private sector, in collaboration with the government in supporting the growth of sectors such as manufacturing, ICT, and infrastructure, will strengthen our ability to deal with the challenges of COVID-19, and stimulate further growth of our economy,” he said.

Emefiele also said that all necessary approvals had been obtained for the Infrastructure Corporation to begin operations in early 2022