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NASSI Asks CBN To Release Funds To SMEs

The Nigerian Association of Small Scale Industrialists (NASSI) has called on the Central Bank of Nigeria (CBN) to release funds to Small and Medium Enterprises (SMEs) to enable them overcome the harsh business environment in the country.

Speaking at a press conference at the weekend, Mr. Kuti-George, the chairman of the Lagos State chapter of the association, urged the CBN to release funds to small business owners, who had been trained and interviewed by the bank.

He said this was necessary in order for the investors to inject the funds into their businesses.

He warned that if the funds were delayed before their eventual release to the beneficiaries, the purpose for the exercise would be defeated.

Assessing the Agricultural Small and Medium Enterprises Investment Scheme (AGSMEIS), he said that the scheme was meant to help SMEs access affordable funding as against going through money deposit banks because the conditions set by commercial banks were hard for small businesses to meet.

He said that the association had trained many entrepreneurs, adding that last December alone, about 120 of them attended an interview at the CBN.

He maintained that up till now, the money was yet to be released to the supposed beneficiaries.

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