The National President, Alumni Association of International Institute of Islamic Banking and Finance (IIIBF), Bayero University Kano, Mr Ahmad Suleiman Gimba, has made an economic call on the non-interest Central Bank of Nigeria (CBN) loans.
Mr Gimba, who spoke via zoom with Neptune Prime, noted that the federal government is doing a lot, and has dissipated much energy in order to balance the economy and make Nigerians proud by making them feel the little impact of the current harsh trauma of the world economy.
He reminded the Minister of Finance, Budget and Economic Planning, Hajiya Zainab Shamsuna Ahmed, and the CBN of an earlier promise to spread non-interest loans across the country.
The President listed the expected loans as Accelerated Agricultural Development Scheme (AADS), Operations of the Agri-Business, Small and Medium Enterprises Scheme (AGSMEIS), Anchor Borrowers’ Programme, Creativity Industry Financing Initiative, Non-Oil Export Stimulation Facility (ESF), Real Sector Support Facility (RSSF), Micro, Small, and Medium Enterprises Development Fund for Non-Interest Financial Institutions (MSMEDF for NIFIs).
He also added that others included are: The Textile Sector, Operations of the Credit Support for the Healthcare Sector.
Mr Gimba further recalls that all the non-interest loan templates were issued by the CBN as non-interest intervention schemes.
The non-interest loans are expected to be at the forefront of the economic decisions of the federal and state governments nationwide, given the economic impetus or downturn the nation is facing, as noted by the President.
He further elaborated that the federal government through the CBN can checkmate the rising poverty by applying the non-interest intervention schemes, which will exhibit a quick and sharp impact on society, and thus leverage the difficulties in human needs.
The President remarked that “Most Nigerians, at all levels, are waiting for the federal government through the CBN, to issue these loans, after it was publicised over a year ago, which is yet to materialise”.
Mr Ahmad Gimba in his conclusion, also called on the Federal Minister of Finance and the Nigeria Economic Summit Group, in their efforts to organise a holistic 27th Nigeria Economic Summit in October this year, to include Islamic economics, banking and finance during the summit, which will show the will, desire, needs and projections in our national economic discourse, as against a unitary capitalist approach to such broad national thinking.
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Am Abdulrahman Hassan from jos
I know you are here to help people within the country