COVID19 Intervention Loans: Why Some Applicants Haven’t Received Theirs

The TCF (Targeted Credit Facility) has now recorded over 80,000 loan applicants. However, there have been complaints by applicants of a delay in receiving loans. The Managing Director of NIRSAL Microfinance Bank Plc, Abubakar Kure gave reasons for this, stating that the nationwide lockdown and restrictions had been a major challenge to the smooth processing …

How To Access CBNs N50billion COVID19 Loan Intervention

Find out how households, MSMEs, Corportate bodies can access CBN’s COVID19 Intervention Loans. Households, MSMEs and Corporate Entities. After confirming your eligibility status for the intervention loan, you will need to submit an application to NIRSAL Microfinance Bank. Your application must contain the following: BVN Number Business Registration Business Plan showing the opportunities or negative …

The CBNs Policy Measures Set To Aid Businesses, Households and Other Stakeholders Through the Pandemic.

To further its commitment to ensuring financial stability in the country, the CBN has provided support via policy measures to households, businesses, financial institutions and other stakeholders, to help lessen the economic impacts created by the pandemic. The policy measures are: EXTENSION OF MORATORIUM: Effective March 1, 2020, all and any intervention loans under moratorium …

The CBN Announces New Policies To Help Businesses Through COVID19

A new set of policies have been implemented by the CBN to curb the negative effects of the pandemic on the country’s economy. Effective since March 1st 2020, interest rates of all applicable CBN intervention facilities have been slashed by 4% from 9%. Some of the intervention programs include the Anchor Borrowers, Commercial Agricultural Credits …

Central Bank Nigeria’s Collateral-Free Loan for Small Businesses

Did you know about Central Bank Nigeria’s Collateral-Free Loan for Small Businesses? In order to drive the initiative of economic sustainability and employment generation by supporting government policies for the promotion of agricultural businesses, Micro, Small and Medium Entreprises (MSMEs); the Central Bank of Nigeria has introduced a scheme called CBN Agric-Business/Small and Medium Enterprises …

Details of CBN EDC (Entrepreneurial Development Centres)

The CBN EDC (Entrepreneurial Development Centres) in Nigeria are built to provide, training materials, equipment, human resources and other facilities that would assure internationally competitive, effective and sustainable services capable of meeting the needs of MSMEs in the country. The CBN’s drive to ensure economic sustainability in tandem with the Federal Government’s initiative has led …