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Creative Sector to Get Single Digit Interest Loans From Bank

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The Bankers Committee of the Central Bank of Nigeria (CBN) on Thursday agreed to provide more funding for the development of the creative sector of the economy.

The decision was made at the end of the committee’s meeting held at the CBN headquarters in Abuja.

Present at the meeting were chief executives of all the Deposit Money Banks in Nigeria as well as other top officials of the apex bank. Addressing journalists shortly after the 342nd meeting of the committee, the Director, Banking Supervision Department, CBN, Mr Ahmed Abdullahi, said that the decision to support the creative industry was born out of the committee’s conviction that the sector held the key to job creation, poverty reduction and inclusive growth.

He was accompanied at the media briefing by the Director, Development Finance Department, CBN, Mr Mudashiru Olaitan; the Managing Director, Access Bank Plc, Herbert Wigwe; the Managing Director, Unity Bank Plc, Mrs Tomi Somefun; and the Director of Corporate Communication Department of the CBN, Mr Isaac Okorafor. Abdullahi said the committee was implementing programmes aimed at improving access to finance and reduce the level of poverty in the country.

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