CBN Says Enugu Govt’s Management of SME Loan Remarkable

The Central Bank of Nigeria’s deputy director of the Development Finance Department, Mr. Osita Nwanisiobi, has commended the Governor Ifeanyi Ugwuanyi administration for its prudent management of the N2b Micro, Small and Medium Enterprises Development Fund (MESMEDF) loan to Enugu State.

Nwanisiobi who made the commendation when he led members of the CBN’s department on a courtesy visit to the Government House, Enugu, said the achievement was an indication of the robust leadership offered by the Enugu State governor.

“I am really happy to note that this state is doing well in the utilization and repayment of the facility. We have been to other states and Enugu has gained a lot of commendation in terms of accepting those loans, utilization of the facility and the repayment. I have to say that this laudable achievement is based on quality leadership because when the leader is doing well, other indices of development follow suit,” he said.

 

Urging the governor not to relent, he explained that the MSMEDF loan seeks to involve people at the grassroots in economic development through the Small and Medium Enterprises platform.

The governor noted that his administration has since inception been consistent in its goal to empower the youths through self employment, adding that the CBN facility has helped the government’s efforts to boost economic activities in the state especially with regard to empowering the youth.

“I am sure you know by now that the state runs a very efficient SME Centre which I am sure, will be able to furnish you with all the details regarding the disbursement and repayment of the loan by individual beneficiaries in the state,” said the governor who was represented by his deputy, Mrs. Cecilia Ezeilo.

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