Three weeks after the central bank of Nigeria released the guidelines for the 50 billion Naira targeted credit facility, over 80,000 applications have
Three weeks after the central bank of Nigeria released the guidelines for the 50 billion Naira targeted credit facility, over 80,000 applications have so far been received from businesses and individuals.
The managing director, NIRSALMicrofinance Bank, Mr. Abubakar Kure, confirmed this during a media briefing in Abuja on Tuesday.
Based on the guidelines released by the CBN, those that can benefit from the fund are households with verifiable evidence of livelihood adversely impacted by COVID-19.
Others are existing enterprises with verifiable evidence of business activities adversely affected as a result of the pandemic and enterprises with bankable plans to take advantage of opportunities arising from the pandemic.
Giving a breakdown of the 80,000 applications, the Managing Director of NIRSALsaid 40,000 applications are from households while 30,000 were received from the Small and Medium Enterprises SME’s.
He said from next week, the bank will begin the disbursement of the fund to those who met the criteria set by the apex bank.
Also speaking at the briefing, the CBN director, corporate communications department, Mr. Isaac Okorafor warned applicants against making payments for business proposal.