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REPS SETS UP COMMITTEE TO INVESTIGATE COVID-19 LOANS GIVEN OUT BY CBN

The House of Representatives has decided to investigate the Central Bank of Nigeria over the difficulties Nigerians are facing in accessing its special intervention loans, especially for Small and Medium Enterprises (SME) to cushion the effect of COVID-19.


A member of the House, Ahmadu Jaha moved a motion at the plenary on Tuesday, July 21st, 2020, titled; 'Need to Investigate the Activities of the Development Finance Department of the Central Bank of Nigeria and the Nigeria Incentive - Bases Risk Sharing System for Agricultural Lending.'


The House unanimously agreed and adopted the motion. 


They have set up a committee to investigate the activities of the Development Finance Department of the apex bank.


Read Also: REPS INVESTIGATE SEIZED ASSET BY ANTI-GRAFT AGENCIES


It also agreed to probe the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending and any other such schemes under the department.


The House also adopted a motion decrying the negative implications of the COVID-19 pandemic on importers.


It consequently enjoined the Federal Government, through the COVID-19 Economic Hardship Relief Programmes to intervene and salvage the businesses of the importers from total collapse.


The committee was given two weeks to investigate the matter and report back to the house.


Read Also: REPS TO INVESTIGATE THE RESIGNATION OF 365 SOLDIERS

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