Minister of Finance, Kemi Adeosun has directed all staff of the National Economic Reconstruction Fund (NERFUND), to immediately return to their duty posts as the crisis within the organisation has been resolved. Staff of the Agency had weeks ago been directed in a Circular signed by the Permanent Secretary, Federal Ministry of Finance, Mahmoud Isa-Dutse on June 15, 2016, to stay away from work to forestall further breakdown of law and order as a result of disputes between the Executive Management, Senior Management and other staff of the organisation.
The National Economic Reconstruction Fund (NERFUND) was established in 1989 to provide medium to long-term financing to viable Small and Medium scale production enterprises to increase the quantity of goods and services available for local consumption and export, provide needed employment, expand our production base and add value to the economy.
The Fund has so far extended credit facilities for 2, 829 projects valued N9.5 billion between 1989 and 1999. All Nigerians are qualified to apply for NERFUND loans either as individuals, Associations, Cooperatives or Corporate Entities and partner institutions.