CBN Encourages Bauchi Women To Apply For Business Loans

BAUCHI – The Central Bank of Nigeria (CBN) in Bauchi State has charged women and girls in the state to apply for loans from the bank to set up businesses for self-sustenance.

Speaking on Monday during an orientation programme for second phase of “Digital livelihood for young women and girls” organized by Centre for Information Technology and Development (CITAD) held in Bauchi, a senior staff of the bank, Shuaibu Baba Ahmed, said the bank gives special consideration to women in giving loans.

“One of the loans being granted by the bank is Micro Enterprises Development Funds where a beneficiary can access up to N10 million and repay in seven years with five per cent interest.

“Applicants do not need to present any collaterals to qualify for the loans but should only introduce a traditional ruler or a clergyman in their areas as a guarantor. The central bank also grants agricultural loans to farmers under Anchor Borrowers’ Programme. The 2019 wet season farm input for rice farmers in the state will be launched on Tuesday” he said.