The Central Bank of Nigeria, (CBN) has commenced the 100 for 100 Policy on Production and Productivity with the unveiling of an operational framework to guide interested companies in participating in the initiative.

The framework which was released on Sunday revealed the conditions interested companies must meet to qualify for the programme.

“This is the operational framework for a robust and transparent process for identifying and selecting high-impact companies and projects under the CBN’s 100 for 100 PPP.

“These are projects that must catalyse sustainable employment-led economic growth through increased domestic production and productivity in the near term,” the framework read in part.

“The projects for consideration shall be new projects in existing companies requiring new machinery and other support and must have the greatest potential to achieve significant scale in their in-country production and for domestic consumption and exports,” it added.

The Governor, CBN, Godwin Emefiele, had during the launch of the eNaira announced plans to introduce a new financial instrument to boost local production and productivity in various sectors of the economy.

According to the governor, the instrument is expected to reverse Nigeria’s over reliance on imports.

The PPP initiative, Emefiele said, would be anchored in the Development Finance Department of the apex bank under the direct supervision of the CBN governor.

Emefiele said the initiative was based on the conviction that with the right support, the country would begin to see “a significant, measurable and verifiable increase in local production and productivity, reduction in certain imports, increase in non-oil exports, and improvements in the foreign exchange-generating capacity of the economy.”

Under this policy, Emefiele said the CBN would advertise, screen, scrutinise and financially support 100 targeted private sector companies in 100 days.

In the framework, the CBN noted that the selection criteria for participation under the CBN’s 100 for 100 PPP would be premised on immediate contribution to economic growth, jobs creation, and social impact.

It added that the criteria to be used in the selection process would be evidence-based, transparent and measurable.

The bank also said that it would among other things provide naira intervention funding as well as foreign exchange for selected companies to purchase new machinery.

It also stated, “This instrument is for only new projects; it will not cover any refinance of existing facilities and will be subject to independent evaluation by international Audit firms. All intervention under this project will be made public and published in national dailies.

The apex bank assured that it would work with fiscal authorities to facilitate power sector, port and export reforms as well as ease of doing business to improve competitiveness in the country so as to complement and propel this initiative.

It added that candidate companies with satisfactory performance could apply through their banks effective from Monday, November 1, 2021.

SOURCE:https://brandspurng.com/2021/11/03/cbn-unveils-framework-to-empower-100-companies/

Mad people

Awon werey

Most of the things cbn do as a program to benefit the masses is for two purposes; either AUDIO OR TO BENEFIT THE NORTH. If u follow this new program, u will find out the simple truth. As of today people are still receiving COVID 19 funds, NIRSAL funds in the north. The NIRSAL fund that is supposed to be used to set up a new business is simply used by most of the beneficiaries for "awure", marriage or to add to the already existing wife Or wives. These guys don't pay back loan and they keep receiving new ones. I keep wandering what happened to the south on CBN map.
Truely ONE NIGERIA.

All intervention under this project will be made public and published in national dailies.
The apex bank assured that it would work with fiscal authorities to facilitate power sector, port and export reforms as well as ease of doing business to improve competitiveness in the country so as to complement and propel this initiative.

Slow and steady we will get to the country of our dreams.
Nigeria will be great again in our lifetime.
God bless Nigeria ��.

H

Dozie32:
Mad people

Muchmore024:
Awon werey

Na dem!!

Well, Sane, honest and hardworking Nigerians,
At this point, you pity them.
You realize that they need prayers.
They hate everything good.
They hate anything uplifting.
They hate development.
They hate their country.
They even hate themselves

Okay. Something that will go to their cronies.
What happened to NIRSAL ?

azikiweironsi:
Okay. Something that will go to their cronies.
What happened to NIRSAL ?

Na dem dem

It always sounds interesting on paper.

Oya implement it na

As far as there is nepotism, right and deserving companies won't even be selected...

But what do I know?

This is Nigeria.

oteneaaron:
It always sounds interesting on paper.

Oya implement it na

As far as there is nepotism, right and deserving companies won't even be selected...

But what do I know?

This is Nigeria.

Nepotism by who sir?
Common, be happy and rule your world �

Sakamaje

CBN this
CBN that.
Is CBN now in charge of fiscal policy execution rather than it's monetary role regulatory function.
Abi isn't it called central bank or is it central company?

What is the role of ministry of trade, investment,
What's the role of ministry of agriculture
What is the role of commercial bank in performing their duty of financial services to companies.
Why is CBN lending directly to individual entities?,(not as per this particular scenario)

Are we not planning on running a private-led economy.

Very soon, people making Pam slippers will be walking into CBN for financial services instead of commercial or microfinance banks.
I hope CBN will not be overwhelmed.

Toor

I just learnt that a government created NISRAL and NISRAL microfinance bank as same plan but seperate entities.
Pls why wouldn't there be confusion?

HOLLY GRAM WTF MAN

azikiweironsi:
Okay. Something that will go to their cronies.
What happened to NIRSAL ?

most people confuse NIRSAL microfinance bank with NIRSAL. They are not the same.

Nigeria under Buhari

100 SME’s I hope

It may work

postbox:


SOURCE:https://brandspurng.com/2021/11/03/cbn-unveils-framework-to-empower-100-companies/

Everything is always fanfare

Nothing stops CBN from making loans available to credible organization

postbox:


SOURCE:https://brandspurng.com/2021/11/03/cbn-unveils-framework-to-empower-100-companies/

Trash talk from a wimpy old failure.

Naira went from 168 to 550 under the watch of this simpleton

me too don look am. emefiele should just run the country joo

Lush100:
CBN this
CBN that.
Is CBN now in charge of fiscal policy execution rather than it's monetary role regulatory function.
Abi isn't it called central bank or is it central company?

What is the role of ministry of trade, investment,
What's the role of ministry of agriculture
What is the role of commercial bank in performing their duty of financial services to companies.
Why is CBN lending directly to individual entities?,(not as per this particular scenario)

Are we not planning on running a private-led economy.

Very soon, people making Pam slippers will be walking into CBN for financial services instead of commercial or microfinance banks.
I hope CBN will not be overwhelmed.

Toor

I just learnt that a government created NISRAL and NISRAL microfinance bank as same plan but seperate entities.
Pls why wouldn't there be confusion?

Lush100:
CBN this
CBN that.
Is CBN now in charge of fiscal policy execution rather than it's monetary role regulatory function.
Abi isn't it called central bank or is it central company?

What is the role of ministry of trade, investment,
What's the role of ministry of agriculture
What is the role of commercial bank in performing their duty of financial services to companies.
Why is CBN lending directly to individual entities?,(not as per this particular scenario)

Are we not planning on running a private-led economy.

Very soon, people making Pam slippers will be walking into CBN for financial services instead of commercial or microfinance banks.
I hope CBN will not be overwhelmed.

Toor

I just learnt that a government created NISRAL and NISRAL microfinance bank as same plan but seperate entities.
Pls why wouldn't there be confusion?

Either you are uninformed or mischievous.... CBN is simply fulfilling one of its duties with those schemes abi where is the support going to come from if not a government financial agency through relevant agencies connected to each scheme .
NIRSAL you are even talking about is owned by the CBN and its a vehicle to encourage banks to give agricultural loans...and as another strategy created the NIRSAL MFB in collaboration with NIPOST

Sir, nothing mischievous to say,
The CBN i knew times back provided framework for monetary policies execution and allowed the private banks and n collaboration with the ministry in charge to handle it while providing regulatory oversight over the matter specifically in the financing aspect.
And it worked if u look at the Soludo era.
Nipost who is a govt owned establishment in the area of mail and package delivery wanted to be both a regulator and player in this same industry, is like a referee also owning a football team of which it wants to officiate a match.
It can never be without bias and that is not a level playing field.
But then seems you have mentioned,
Let's us see how far.
We remember air Nigeria what they said it would do and what it is today. It doesn't even exist anymore despite the fanfare.
Hey I am not a basher I am just a logical thinker who knows no sides .

Good morning sir

Difrent:


Either you are uninformed or mischievous.... CBN is simply fulfilling one of its duties with those schemes abi where is the support going to come from if not a government financial agency through relevant agencies connected to each scheme .
NIRSAL you are even talking about is owned by the CBN and its a vehicle to encourage banks to give agricultural loans...and as another strategy created the NIRSAL MFB in collaboration with NIPOST