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From Noah Ebije, Kaduna
National Chairman, Arewa Consultative Forum (ACF), Chief Audu Ogbeh, has noted that the high interest rates being charged by banks for loans to small and medium enterprises are capable of pushing youths into kidnapping which they consider as fastest means of making money.
In a statement made available to journalists yesterday to congratulate President Muhammadu Buhari for the presentation of budget estimates of the 2022 fiscal year, Chief Ogbeh described the interest rates as the most outrageous interest rates that any developing country could endure.
“We wish to caution that unless and until we hurriedly establish a mechanism to deal with the current national tragedy where our children have resolved that the fastest way to their personal economic recovery is kidnapping, we think that the Nigerian economy cannot experience real growth if access to reasonable credit remains forever blocked.
