The Central Bank of Nigeria (CBN) on Monday announced the introduction of a new financial instrument known as ‘The 100 for 100 PPP’ Policy on Production and Productivity to boost local production and productivity in various sectors of the economy.
This disclosure was made by the CBN Governor, Mr Godwin Emefiele, at the launch of the Central Bank Digital Currency (CBDC), known as the eNaira at the State House, Abuja.
The initiative by the apex bank is expected to provide support for selected private sector companies in the country as well as part of steps to reverse the country’s overreliance on imports.