CBN creates 7.1m jobs through interventions

By Amaka Ifeakandu


The Central Bank of Nigeria (CBN) said it has created over 7.086 million jobs directly as at August this year through its several interventions in the real sector of the economy.
The apex bank also said that it is planing to increase its reach to farmers though the Anchor Borrowers Programme from 200,000 to 500,000.
The apex regulator said the process is going and beyond working with only the state governements, adding that it is partnering with the Rice Farmers Association of Nigeria (RIFAN) to mobilise 300,000 rice farmers who are expected to add at least two million metric tonnes of rice to the national output of the country.
Speaking at the CBN Day at the ongoing Lagos International Trade Fair, CBN Acting Director, Corporate Communications Department, Isaac Okoroafor, said the apex bank interventions in the different sectors of the economy was due to the realisation that the effect of its monetary policies will not be felt if some critical sectors do not get interventions.
According to him, there would have been no Nigerian airline flying the skies if not for the N300 billion Power and Airline Intervention Fund (PAIF) which has created 7,899 direct jobs and 14,304 indirect jobs.
He noted that the interventions of the apex bank in the agricultural sector through the Anchor Borrowers Programme, N300 billion Commercial Agricultural Credit Scheme (CACS) and the Agricultural Credit Guarantee Scheme Fund (ACGSF) has seen the creation of 6.833 million direct jobs.

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