Regulatory Alerts2015-05-18 | FPR/DIR/CIR/GEN/05/005Circular to all Banks and Other Financial Institutions: Amendment to Pricing of Commercial Agriculture Credit Scheme(CACS) and Guidelines
The Central Bank of Nigeria has revised the guidelines for the Commercial Agriculture Credit Scheme (CACS), introduced in April 2010, to sustain public interest and enhance its operations. The revision includes a new interest rate of 9.0 percent on CACS facilities, with a fee-sharing formula of 7 percent for participating banks and 2 percent for the CBN. The revised guidelines, dated April 29, 2015, supersede the previous ones, and banks are encouraged to note the changes.
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credit