The Central Bank of Nigeria (CBN) is taking steps to recover over N530 billion in unused intervention funds from nine Deposit Money Banks in the country.
![](https://thenigerialawyer.com/wp-content/uploads/2026/09/2026-IDRI-Masterclass.png")
This follows the suspension of all CBN intervention funds by the current governor, Olayemi Cardoso, who aims to refocus the apex bank on its core mandate.
According to an analysis of the banks’ latest financial statements, Zenith Bank holds the highest amount of unused intervention funds at N157.81 billion, followed by Fidelity Bank with N98.85 billion and Access Bank with N94.63 billion. Other banks with significant unused funds include Sterling Bank (N80.34bn), GTB (N52.39bn), UBA (N20.87bn), FCMB (N13.17bn), Stanbic IBTC (N11.49bn), and Wema Bank (N1.83bn).
Governor Cardoso has emphasized that the CBN will not return to development financing but will instead focus on advisory roles to support economic growth. However, small business operators have called for the CBN to allow banks to complete the disbursement of unused funds to beneficiaries.
In a related development, the Nigerian Financial Intelligence Unit (NFIU) and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) have partnered to recover outstanding debts from defaulters of the N1 trillion Anchor Borrowers’ loan scheme. Out of the N1.12 trillion disbursed to 563 farmers, only about N670.4 billion has been repaid, leaving N450.90 billion outstanding.
The CBN has confirmed the suspension of all intervention loans through an email, stating that existing development finance intervention funds with approved interest rates will remain unchanged and are to be fully repaid in line with the terms and conditions.
[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation
______________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence
Interested buyers are encouraged to place their orders and enquiries via:
0704 444 4777, 0704 444 4999, 0818 199 9888
Website: www.alexandernigeria.com
“A Comprehensive Guide To Evidence Law” — Releases Second Edition In Three Volumes, Covering 4,051 Cases
For enquiries and orders, contact: 08035526491 Email: jerryamadisilk@gmail.com
Prof. Jerry Amadi’s Evidence Law, Second Edition (2026), contains 3,314 pages in three volumes, covering the Evidence Act 2011, its 2023 amendment, and 4,051 Nigerian and English cases.
