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A’Ibom to Access FG’s Micro Finance Fund

Akwa Ibom State Government is set to sign a Memorandum of Understanding (MoU) with the Central Bank of Nigeria (CBN) in order to access N2billion from the Micro, Small & Medium Enterprise Development Fund (MSNEDF) to support micro and small businesses in the State.

It could be recalled the Federal Government through the Central Bank of Nigeria had made available N220 billion to be access with each State entitled to access N2 billion for micro, small and medium scale businesses.

Briefing operators of Micro Finance Banks in the state, the State Commissioner for Economic Development, Mr. Akan Okon said the money is to help stimulate and improve the State’s economy by encouraging small and medium scale industries and to promote micro enterprise development.