COVID-19 loans : Reps probe CBN

The Central Bank of Nigeria (CBN) is set to be probed by the House of Representatives over the difficulties Nigerians face in accessing its special intervention loans.

They made emphasis on the special intervention loans created for Small and Medium-Scale Enterprises to cushion the effect of COVID-19.

At the plenary on Tuesday, a member of the House, Ahmadu Jaha, moved a motion titled, ‘Need to Investigate the Activities of the Development Finance Department of the Central Bank of Nigeria and the Nigeria Incentive–Based Risk Sharing System for Agricultural Lending.’

The motion was unanimously adopted by the House. They resolved to set up an ad hoc committee to investigate the activities of the Development Finance Department of the apex bank.

Also, the House adopted a motion against the negative impact of COVID-19 on importers.

The motion which was moved by Mr Christopher Okwudili was titled, ‘Need to Rescue the Businesses of Importers from Total Collapse.’

The Federal Government was urged by the House through the COVID–19 Economic Hardship Relief Programmes to “intervene and save the businesses of the importers from total collapse.”

The Committee on Commerce was given a mandate to investigate the matter and report back within two weeks for further legislative action.