Amaka Obiefuna.

The Bankers Committee have announced to contribute about N30 billion of their profits after tax to a newly created Agriculture/Small and Medium Enterprise (SME) fund designed to support funding financed by SMEs and primary agriculture.

This was disclosed by the CBN governor, Mr. Godwin Emefiele at the 8^th Annual Bankers Committee retreat held in Lagos over the weekend.

He said that CBN will partner with the banking sector to establish an Agriculture/SME fund (AGSME fund). He further pointed out that the scheme was to enhance growth and have equity funds by local investors who help to achieve the objective of agriculture and SMEs.

He said that by estimation, the scheme would take off by January 1^st, 2017 but projects would be unavailable till around March or April when the public would have been presented with the banks’ audited accounts.

He also added that the Bankers Committee had other goals for 2017 which included aiding the government to develop adequate infrastructures to enhance viable SMEs and also increase access and funding costs for SMEs industries.