SME/MSME support funds (2)

b. N1billion OYSG-MSME Suppport Fund has made strategic moves to recover poorly managed MSME funding that was dispensed by the past administration via a number of Microfinance banks.

A thorough assessment process for microfinance banks has been concluded and a number of microfinance Banks domiciled within the State have been approved.

This disbursement activity for this OYSG MSME Fund is coming at a strategic time when there has been a downturn in the economy due to COVID-19 pandemic.