If claims of malpractices surrounding the ongoing disbursement of the Central Bank of Nigeria (CBN’s) N50 billion COVID-19 Targeted Credit Facility (TCF) for households and Micro, Small and Medium-scale Enterprises (MSME) is anything to go by, then the good purpose of the scheme may be under threat. While the Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL) Microfinance Bank, which is managing the scheme on behalf of the CBN, is doling out figures of beneficiaries, the reality is dominated by allegations of exercise being skewed towards friends and relatives.…
Read MoreN50bn CBN COVID-19 disbursement, the highest fraud in Nigeria at the moment, says Akinyele
