Nigeria: DBN Unveils NGN 610 Million Lifeline for Small Businesses

The Development Bank of Nigeria (DBN) has unveiled a nationwide strategic plan for on-lending facility to millions of Medium, Small and Micro Enterprises (MSMEs) across the country. Under the plan, SMEs would be able to access up to NGN 610 million for the development of their housing needs at very affordable rates.

The Managing Director of DBN, Tony Okpanachi explained, “We moderate the pricing of our loans through the participating financial institutions and single obligor limit of NGN 610 million”.

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