Borno State Governor, Kashim Shettima on Monday waved interests to be
paid by citizens as he launched the disbursement of two billion naira
accessed from the Central Bank of Nigeria, CBN, as loans noting that his
Government was going to bear interests to be accumulated by the loans
while citizens will only repay the exact amounts they access through the
Borno State Renaissance Micro-Finance Bank established by Shettima in
his first term.
The micro finance bank which was licensed by the CBN, documents, processes and manages the entire loans and recoveries.
The launching took place in Maiduguri, the Borno State capital with 660
traders of the Maiduguri Monday Market benefiting in the first phase.
Governor Shettima, his Deputy, Usman Mamman Durkwa and Emirs at the
event, made symbolic presentation of letters, granting the loans to the
beneficiaries.
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