Emefiele said to restore stability to the economy by providing assistance to individual households, SMEs and businesses that had been severely affected by the pandemic, as well as by the lockdown measures, it reduced the interest rate on CBN intervention loans from nine to five per cent.
He said, “Although interest rates on our various intervention facilities were expected to revert to nine per cent effective March 1, 2022, we are announcing that the rates would remain at five per cent for another year in view of the promising trajectory we have established in economic growth and job creation.
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