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The Central Bank of Nigeria has disclosed that it has received over eight million applications from Nigerians for its COVID-19 Targeted Credit Facility to help households and businesses.

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Mr. Osita Nwanisiobi, Director of the CBN’s Corporate Communications Department, made this revelation on Saturday while fielding questions from journalists in Enugu during a one-day interactive enlightenment session with organized labor and civil society groups on the CBN’s five-year policy thrust. The session was held as part of the CBN’s ongoing dialogue with these groups on the CBN’s five-year policy thrust.

Nwanisiobi, who stated that the CBN would not rest on its oars because the TCF had assisted Nigerians in escaping recession and posting the current Gross Domestic Product growth rate of 5.01 percent, said that the CBN would not rest on its oars.

He also mentioned that the numerous COVID-19-induced interventions had been of assistance to over 600,000 applicants up to this point.

Nwanisiobi refuted allegations that people living in Enugu State were denied access to credit facilities provided by the CBN.

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He responded by stating, “That is not the case. Sincerely, if you tell me that there are still people who require the COVID-19 facility but have not received it, I will agree with you.

He stated, “We began with approximately N50 billion. We started with N100 billion, then N300 billion, and now we’re up to N400 billion in discussion. The current number of applications that we have is over eight million, and we have completed over 600,000 of them.

“At this point, are people going to complain that they haven’t received it? The answer to that question is yes; once you see the number, you will understand what it is that we are doing.

“The fact of the matter is that we are not sitting back and relaxing. Because the governor has seen that what we have done in this regard has helped Nigerians exit recession and post the kind of GDP that we have posted, he is poised to do more, and he is actually very passionate about what he is doing.

Nwanisiobi stated that the purpose of the enlightenment was to educate the labor leaders as they were critical stakeholders in the policies, interventions, programs, and initiatives of the central bank. This was the reason why the targeted stakeholders were selected for the interactive session.

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