CBN Plans DFI Recapitalisation As FG Unveils Mass Savings Scheme
CBN Office Abuja The Deputy Governor of the Central Bank of Nigeria (CBN) in charge of Economic Policy, Muhammad Abdullahi, has announced that the bank is considering the recapitalisation and restructuring of Development Finance Institutions (DFIs) to address the significant financing gap facing micro, small, and medium-sized enterprises (MSMEs). Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569656851-0"); }); The deputy governor disclosed this during a panel session at the launch of the Nigeria Development Update by the World Bank in Abuja on Tuesday. He explained that a recent review by the apex bank found that existing DFIs were too small to meet the credit needs of businesses. “We conducted a review last year of the development finance space. Across all the DFIs in Nigeria, the total asset base is slightly above N8tn, whereas what is required in development finance for MSMEs is over N130tn,” he said. READ ALSO: DMO Announces 14.08% Interest On April 2026 Savings Bonds Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569913499-0"); }); Meanwhile, the Federal Government has unveiled plans to introduce a mass savings scheme aimed at reducing reliance on borrowing and expanding domestic investment. The Minister of Finance, Wale Edun, who also spoke at the launch of the Nigeria Development Update, noted that the initiative will enable Nigerians across income levels to invest and earn returns while supporting economic growth. He said, “There are mass savings schemes which allow people at all levels of society to save and earn unearned income, including from companies such as refineries and other large firms listed on the stock exchange.” According to him, “Alternative funding options such as domestic savings mobilisation and equity participation would play a larger role going forward, especially as the government seeks to crowd in private capital.” Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672587799169-0"); }); He added that the initiative aligns with broader reforms aimed at strengthening public finances, including improved revenue tracking and expenditure control. Join Our Whatsapp Channel To join: Simply click on the link below & turn on notifications to get the latest updates Subscribe to Our Newsletter In This Article: CBN DFI More Stories ₦4.65tn Raised As 33 Banks Meet CBN’s Capital Thresholds CBN Sets Tough Timeline For Banks On Cybersecurity Nigeria’s Balance Of Payment Falls 38% To $4.23bn /* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * / var disqus_shortname = 'channelstelevision'; // Required - Replace example with your forum shortname / * * DON'T EDIT BELOW THIS LINE * * */ (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); Please enable JavaScript to view the comments powered by Disqus.