Regulatory Alerts2020-07-20 | FPR/DIR/CIR/GEN/07/058Circular to All Non-Interest Financial Institutions (NIFIs)
The Central Bank of Nigeria has introduced intervention schemes for Non-Interest Financial Institutions to increase access to finance and promote financial inclusion in the country. The schemes include the Accelerated Agricultural Development Scheme, the Textile Sector Intervention, the Agri-Business Small and Medium Enterprises Investment Scheme, the Micro, Small and Medium Enterprises Development Fund, the Non-Oil Export Stimulation Facility, the Anchor Borrowers' Programme, the Real Sector Support Facility, the Credit Support for the Healthcare Sector, and the N50 billion Targeted Credit Facility. The guidelines outline eligibility, funding, financing limits, rates of return, tenors, collateral requirements, and responsibilities of stakeholders for each scheme.