...We are still on verification stages, says CBN

There is concern on the integrity of the selection of the beneficiaries of the N300 billion Real Sector Support Facility (RSSF) launched last year by president Goodluck Jonathan, Daily Trust gathered. Some applicants who don’t want to be named in press told Daily Trust that at least seven manufacturers that applied for the facility have been sidelined in the fund allocation.

They claimed that after applying and satisfying the conditions, they have not heard from the bank on the outcome but just to be informed that their names have been replaced by other companies that have no manufacturing plants. “We got inside information from the CBN that the bank has perfected a list of 30 companies identified as manufacturers but with no known manufacturing outfit anywhere as the beneficiaries.”

But the Central Bank of Nigeria denied such allegations in a reaction to Daily Trust. CBN spokesman, Ibrahim Mu’azu said the allegations are baseless as the bank just commenced the process of verifying the applicants. Mu’azu said this is not a one-man process, it has to go through stages and at each stage it will be debated, before management considers it.

“The report has not even gone for review and whatever analysis done would be forwarded for recommendations and to the approving authorities.” He said by the nature of the process, it’s not something that can be concluded this week.

http://www.dailytrust.com.ng/daily/index.php/business/55607-anxiety-over-n300-billion-manufacturers-fund-disbursement

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