The objective of the new CBN’s 100 for 100 financial instruments, is to reverse the country’s over-reliance on imports, by creating a platform that targets and supports the right companies and projects with the potential to immediately transform and jumpstart the productive base of the economy.
The Central Bank of Nigeria (CBN) has announced criteria for the selection of private sector companies’ participation under the 100 for 100 Policy on Production and Productivity (PPP).
According to the apex bank, the selection for participation under the CBN’s PPP shall be based on the immediate contribution to the economic growth, jobs creation, and social impact.
The CBN noted that in selecting the companies and projects, therefore, key areas such as production efficiency, scalability, historical financial performance (three years audited report of the company), the viability of the business, credit-worthiness of directors, contribution to GDP potential, the share of the domestic market, foreign exchange earning potential, ease of exports and other criteria shall be deployed.
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