The Rivers State Chapter of NANTS with the collaboration of CBN had a training on non collateral loan disbursement for traders and other Small and Medium Enterprises (SMEs) members.
NANTS commends the CBN to provide effective monitoring of the planned loans so that the facility window does not go the way of previous well-intended financial instruments. Such window must strictly target the poor with poverty reduction and sustainable development at the core of its objectives. We equally call on all Commercial Banks to awake to their pro-development responsibilities of building the economy by ensuring that all bulwarks that hinder to access to genuine applicants are clearly removed. More so, the process of access and approval of applications must be made more transparent and devoid of consideration of political, religious or social affiliation. Furthermore, we strongly advise that the financial window should target raising domestic production by increasing the band for actors in the agricultural commodities sector, so as to reduce unnecessary import bills especially as a means of dealing with and addressing the ‘coronavirus economy’. Women entrepreneurs should be given serious attention and provided unhindered access to the funds. While commending Government for this remarkable initiative, NANTS also calls on traders and entrepreneurs nationwide to make use of the opportunity and also ensure accurate and timely repayment of accessed loans. We call on youths among our traders constituency to make use of this opportunity created by Government to build and enhance their businesses with the potentials for creating more employment opportunities in the country.