CBN Promises Increased Access To Credit Facilities In 2022

The Central Bank of Nigeria, Godwin Emefiele, has said the banking sector will increase access to finance and credit for households in 2022.

Its Governor,Godwin Emefiele,who disclosed this in a statement  said the policy focus of the bank for 2022 is with a pledge to sustain improved access to finance and credit for households and businesses, mobilise investment to boost domestic productivity, enable faster growth of non-oil exports, and support employment generating activities,” he said.

According to him, the country had been able to contain some of the effects of the COVID-19 pandemic on the economy.

He emphasized the need for all stakeholders to work to build a more resilient economy that would be better able to contain external shocks, while supporting growth and wealth creation in key sectors of our economy.

He said a major lesson from the COVID-19 pandemic was that deliberate efforts must be made to diversify the base of the Nigerian economy,adding that  the country must do everything possible to reduce the importation of goods into the country.

“Proactive steps on the part of stakeholders in the private sector, in collaboration with the government in supporting the growth of sectors such as manufacturing, ICT, and infrastructure, will strengthen our ability to deal with the challenges of COVID-19, and stimulate further growth of our economy,” he added.