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 …

CBN Guidelines for N100billion Credit Support for Health Sectors

The Central Bank of Nigeria (CBN) has set guidelines towards the availability of its N100 billion COVID-19 intervention loan for players in the health sector. This is a part of its policy measure initiated to help small business, households, and stakeholders through the pandemic. Here are the guidelines and implications for businesses in the health …

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‚Äôs 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 …