According to reports reaching oyogist.com, inline with the Federal Government Objective to empower households and small/medium enterprises, the Central Bank of Nigeria (CBN) has increased the Targeted Credit Facility (TCF) to N300 billion.
The facility, was originally N150 billion, but has been increased to N300 billion to enable it empower more households and small businesses.
“The increase is to accommodate many more beneficiaries and boost consumer expenditure which should positively impact output growth.
“Given the impact on COVID-19 on key economic variables earlier mentioned, the fiscal and monetary authorities took unprecedented measures to prevent any long-term damage to the growth prospects of our economy,” CBN Governor, Emefile said.
