Isaac Okorafor, CBN's Director, Corporate Communications
Isaac Okoroafor, CBN spokesman

The Central Bank of Nigeria, CBN has called on more women to take advantage of the bank’s small and medium scale loans to empower themselves and grow their businesses.

Speaking at the special day event at the on-going Lagos International Trade Fair, the Director of Corporate Communications of the bank, Mr Isaac OKoroafor said the apex bank was encouraging more women to participate in the loan scheme because of their trustworthiness in terms of loan repayment.

Okoroafor said, “It is easy to give more loans to women because they will pay back. They are not like those of us (men), who may not pay back”.

He, however, said despite the enterprising nature of women, they hardly apply for the bank’s single digit interest loans for small and medium scale enterprises.

“Even those who come are not well organised and lacked the necessary collateral,” Okoroafor said.

He said the CBN has therefore embarked on encouraging the womenfolk to organise themselves under effective cooperative units in order to access the loan incentives.

The special day at the Trade fair is an event specifically set for various government and non -government organisations and agencies to inform the public about their products and services and also update them on various efforts being embarked on.

Each organisation has its own special day. As the fair enters its 9th day and gradually draws to its end on the 11th, some other government and non-government organisations are still expected to take advantage of the special day event.