Development Finance Department, Central Bank of Nigeria
Act · Finance
An Act establishes the Development Finance Department of the Central Bank of Nigeria to design and administer funding programmes for agriculture, small enterprises, and infrastructure. It targets farmers, small businesses, and financial institutions. The initiative promotes economic growth and job creation in underserved sectors.
Development Finance Department, Central Bank of Nigeria
What Is This Policy?
An overview of the Central Bank of Nigeria's Development Finance Department, which designs and administers special funding programmes and interventions to support agriculture, small and medium enterprises, infrastructure, and other priority sectors of the Nigerian economy.
Who Does It Target?
Agricultural producers and agribusiness enterprises Small and medium enterprises (SMEs) Participating financial institutions (commercial banks, microfinance banks) State governments and development agencies
What Does It Aim to Achieve?
Channel affordable credit to priority sectors of the Nigerian economy that are underserved by commercial lending, thereby promoting economic diversification, job creation, and inclusive growth.
Key Features
Anchor Borrowers Programme: Provides concessionary loans to smallholder farmers linked to large-scale processors Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS): Funding for agricultural and SME start-ups Real Sector Support Facility: Medium to long-term loans for manufacturing and value-addition activities Targeted Credit Facility: Special interventions for economic recovery and specific sector support Micro, Small and Medium Enterprise Development Fund: Wholesale lending to microfinance banks for on-lending to MSMEs
Current Status
Rollout Stage: Ongoing with multiple active programmes Coverage: Nationwide through participating financial institutions Lead Agency: Central Bank of Nigeria, Development Finance Department Funding: CBN intervention funds, statutory allocations, and recoveries
How to Access
Eligible borrowers access development finance through participating financial institutions. Identify the relevant CBN programme for your sector and business stage Apply through a participating commercial bank or microfinance bank Meet eligibility criteria including business registration and viable business plans Funds are disbursed through the participating institution
Official Resources
Website: cbn.gov.ng Contact: Development Finance Department, Central Bank of Nigeria, Abuja
Legal Framework
Operates under the Central Bank of Nigeria Act 2007, which is the principal statute governing the CBN and its development finance mandate. The Department's interventions draw on the Agricultural Credit Guarantee Scheme Fund Act (Cap A13 LFN 2004), the Banks and Other Financial Institutions Act (BOFIA) 2020, and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) framework. Aligns with the National Financial Inclusion Strategy and the National Agricultural Policy.