The Central Bank of Nigeria (CBN), in pursuit of its objective of promoting economic development, in recognition of the significant contributions that Micro, Small and Medium Enterprises (MSMEs) are making to the growth of the economy, has been launching a growing range of initiatives aimed at addressing the financing gap in this sub-sector.

The CBN, in line with its pivotal role in the nation’s financial ecosystem, launched the Micro, Small and Medium Enterprises Development Fund (MSMEDF) on August 15, 2013 with a share capital of N220 billion. The Fund aims to enhance the access of MSMEs to financial services, by channelling single-digit loans at Nine percent interest rate to them, through the Primary Finance Institutions (PFIs).

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