Agency Report/
Agricultural, manufacturing and growth and employment stimulating sectors can now borrow long term as much as N10 billion at consolidated nine per cent interest rate under new guidelines issued by the Central Bank of Nigeria to increase the flow of credit to the real sector.
The new credit policy called Guidelines for accessing Real Sector Support Facility through Cash Reserves Requirement and Corporate Bonds was released by the CBN and marks a big departure from the excruciating interest rate regime of 25-30 per cent that has been blamed for stifling enterprises in the country.
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