CBN releases N2 billion to SMEs in Kano

Gov. Ganduje

Gov. Ganduje

The Central Bank of Nigeria (CBN) has released N2 billion Small and Medium Enterprises (SMEs), fund to the government of Kano State and would soon be disbursed to artisans, the state governor, Dr. Abdullahi Umar Ganduje has announced.

This is in an effort to tame unemployment and empower medium and small businesses in the state.

A release signed and issued by the Director General, Media and Communication, Salihu Tanko Yakasai, stressed that governor Abdullahi Umar Ganduje, would soon disburse the money to beneficiaries.

According to the release 63 per cent of the funds would go to women to further empower them for proper development and economic progress of the state and the nation in general.

The funds would be disbursed through the 37 Micro Finance Banks that were established by the state government.

During the inauguration of the reconstituted boards of the microfinance banks, following the dissolution of the old boards, governor Ganduje said, “The decision to allocate larger percentage of the money to women is because of our desire to empower them economically and lift families out of poverty.

“The banks were virtually dead when we came in and the money was stolen. The banks were disorganised. We have to reorganise them to enable them perform up to expectation,” Ganduje. maintained.

To also strengthen due process and transparency in the disbursement of the CBN funds, Ganduje directed the state anti-corruption agency to focus its searchlight on the banks so that anyone found misappropriating funds would face the full wrath of the law.

He directed local government councils in the state to patronize the microfinance banks especially by depositing their revenue funds, stressing that the state government would also help the banks to become vibrant by carrying out its empowerment programmes through them.

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