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SMEDAN advocates repatriation of stolen money to fund micro, small businesses

The Small and Medium Enterprises         Development Agency of Nigeria (SMEDAN) has urged the Federal
Government to persuade Nigerians who stashed away stolen money in foreign banks to repatriate such funds.

The Director-General, Alhaji Muhammad Umar, in a statement said that such repatriated fund could then be made available for on-lending to Micro, Small and Medium Enterprises (MSMEs) in Nigeria.

The statement signed by the Head of Corporate Affairs, Mr Levi Anyikwa and made available to newsmen on Wednesday, quoted the Director General as advocating what he tagged “economic amnesty”. Umar suggested that such stolen funds and others funds to be repatriated by Nigerians abroad should be channeled to the Micro-Finance Banks through the CBN at an interest rate of not more than three per cent


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