Stakeholders differ on CBN’s withdrawal from manufacturers’ intervention fund
He argued that past intervention schemes exposed the limitations of central bank-led development financing and maintained that institutions such as BoI, supported by commercial banks, are better suited to provide industrial credit.
According to her, withdrawing intervention financing without a credible replacement has pushed manufacturers into a credit market that is ill-suited to industrial development, while routing development finance through commercial banks has weakened the concessional benefits of such schemes, discouraged lending to small and medium-scale manufacturers and contributed to declining industrial credit.
By Yinka Kolawole Industry stakeholders have expressed divergent views on the Central Bank of Nigeria’s (CBN) withdrawal from direct intervention financing of the manufacturing sector.
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