GoldenNewsNG
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
No Result
View All Result
Golden News
No Result
View All Result

More Nigerians To Benefit From CBN COVID-19 Loan, Set to Reopen Portal – FG

Adesina david by Adesina david
January 11, 2024
in Headline, News
Reading Time: 2 mins read
Why NIRSAL CBN is not approving your CBN COVID-19 loan
34
SHARES
Advertisements

In a bid to help household owners and Small and Medium Enterprises (SMEs) in Nigeria overcome the adverse effects caused by the Coronavirus, the Central Bank of Nigeria (CBN), through NIRSAL Microfinance Bank, has announced the reopening of its portal for Micro Small and Medium Enterprises (SMEs) and households affected by COVID-19 to access up to $70,000.

The only application portal is https://nmfbloans.nmfb.com.ng/

READ ALSO

Marketers Fear Fuel Price Hike as PENGASSAN Strike Begins

FG Makes Thesis Submission to NERD Mandatory for NYSC Mobilisation

Chairman, Nigeria Association of Small and Medium Enterprises, Abuja, Abiodun Ihebuzor says the initiative is laudable, adding that each of the banks in Nigeria will give 5 percent of its profit for this purpose.

He also noted it is difficult to state how many Nigerians have been able to access the fund so far, but as of October 2020, about 14, 600 people have been able to access the fund including 250 SMEs.

“It is actually a timely intervention looking at the effects of Covid-19 on SMEs. It has provided high-level succor, this is a facility that comes to small business owners at less than 9 percent, precisely 5 percent but when you add up other charges in terms of processing and management fee it still sits at below one digit of 9 percent,” he said.

According to the Central Bank of Nigeria, household owners whose livelihood was affected by the Coronavirus and business owners whose business activity was affected by the pandemic are entitled to the loan however, some complained the process is rather too long

Daniel Odi, Founder, The Farm located in the central district of Abuja says he applied for the loan since July last year and had done the required training and interview but since then he has not been able to access the fund.

“If I wanted something since July last year, it’s almost a year now, whatever I want to do with the money is defeated already. I actually wanted the fund to expand my business,” he noted.

It is a good idea because some businesses suffered during the pandemic and some people had to shut down. I heard about the loan but it seems cumbersome,” said business owner, Solio Jones.

“I know about the loan but I don’t believe in it because I believe the people at the top will share the money within themselves,” said Chimezie Israel, another business owner.

However, Ihebuzor noted that the procedures are not cumbersome. He says in terms of procedure it is simple but in terms of practice, it could be difficult.

“In terms of effectiveness, it is a little bit early to say it is not yet satisfactory. It is not yet satisfying because there are a lot of disgruntling comments from individuals who have applied and it is first of its kind in the country, it is a learning process,” he added.

He explained that to access the fund, an applicant needs to be trained for 5 days by the Enterprise Development Institute (EDI) approved and recognized by the CBN.

📢 JOIN OUR WHATSAPP GROUP 📢 JOIN OUR TELEGRAM CHANNEL
Previous Post

NPower News Today 2021 June: Recruitment, Shortlist, Deployment, Batch A, B & C NASIMS, NEXIT Latest News, Registration & Recruitment News, CBN Empowerment Portal Login 2021, Password Reset etc

Next Post

Breaking: NECO Registrar, Godswill Obioma assassinated

Related Posts

Marketers Fear Fuel Price Hike as PENGASSAN Strike Begins

Marketers Fear Fuel Price Hike as PENGASSAN Strike Begins

Marketers Fear Fuel Price Hike as PENGASSAN Strike Begins Nigerians may be facing another round of hardship as the nationwide...

Read moreDetails

FG Makes Thesis Submission to NERD Mandatory for NYSC Mobilisation

NYSC Mobilisation

FG has made Thesis Submission to NERD Mandatory for NYSC Mobilisation The Federal Government has approved a new policy mandating...

Read moreDetails

NNPC, NUPRC, NMDPRA Operations Shut as PENGASSAN Declares Nationwide Strike

PENGASSAN Strike

Nationwide PENGASSAN Strike Shuts Down NNPC, NUPRC, NMDPRA Operations Nationwide   GoldenNewsNg reports that the nationwide strike declared by the Petroleum...

Read moreDetails

EDIA Launches ₦100 Million Youth Empowerment Programme in Enugu

Youth Empowerment Programme in Enugu

EDIA Launches ₦100 Million Youth Empowerment Programme in Enugu The Ezeagu in Diaspora International Association (EDIA) has unveiled a ₦100...

Read moreDetails

NCDMB to Train 3,700 Nigerian Youths in Digital Skills for Oil and Gas Industry

NCDMB Digitalization Initiative

NCDMB to Train 3,700 Nigerian Youths in Digital Skills for Oil and Gas Industry The Nigerian Content Development and Monitoring...

Read moreDetails

Black Market Dollar to Naira Exchange Rate Today 29th Sept 2025

Black Market Dollar to Naira

Detailed report on Black Market Dollar to Naira Exchange Rate Today, Monday, 29th September 2025   GoldenNewsNg reports that the...

Read moreDetails

What the Law Says About Spraying Money in Nigeria – Penalties, Alternatives & CBN Act

Spraying Money in Nigeria

What the Law Says About Spraying Money in Nigeria Spraying money at weddings, birthdays, and other celebrations has become a...

Read moreDetails

World Bank to Approve $750m Loans for Nigeria

World Bank

World Bank to Approve $750m Loans for Nigeria on September 30 The World Bank is set to approve two loans...

Read moreDetails

PENGASSAN Declares Nationwide Strike as Dangote Refinery Sacks Over 800 Nigerian Workers

2024:  Dangote Graduate Trainee Programme

PENGASSAN has Declared Nationwide Strike as Dangote Refinery Sacks Over 800 Nigerian Workers. GoldenNewsNg reports that The Petroleum and Natural...

Read moreDetails

Link For NJFP Unmatched Fellows Revalidation For NJFP 2.0 Enrollment

NJFP Beneficiaries To Get 100k Monthly Stipend And All You Need To Know

Link For NJFP Unmatched Fellows Revalidation For NJFP 2.0 Enrollment The Federal Government has begun the revalidation process for unmatched...

Read moreDetails
Load More
Next Post
Breaking: NECO Registrar, Godswill Obioma assassinated

Breaking: NECO Registrar, Godswill Obioma assassinated

SEARCH ADS

Latest Posts

Marketers Fear Fuel Price Hike as PENGASSAN Strike Begins
business

Marketers Fear Fuel Price Hike as PENGASSAN Strike Begins

NYSC Mobilisation
Education

FG Makes Thesis Submission to NERD Mandatory for NYSC Mobilisation

PENGASSAN Strike
Headline

NNPC, NUPRC, NMDPRA Operations Shut as PENGASSAN Declares Nationwide Strike

Youth Empowerment Programme in Enugu
Headline

EDIA Launches ₦100 Million Youth Empowerment Programme in Enugu

NCDMB Digitalization Initiative
Headline

NCDMB to Train 3,700 Nigerian Youths in Digital Skills for Oil and Gas Industry

Black Market Dollar to Naira
business

Black Market Dollar to Naira Exchange Rate Today 29th Sept 2025

Spraying Money in Nigeria
Daily Guides

What the Law Says About Spraying Money in Nigeria – Penalties, Alternatives & CBN Act

World Bank
Headline

World Bank to Approve $750m Loans for Nigeria

2024:  Dangote Graduate Trainee Programme
business

PENGASSAN Declares Nationwide Strike as Dangote Refinery Sacks Over 800 Nigerian Workers

NJFP Beneficiaries To Get 100k Monthly Stipend And All You Need To Know
Headline

Link For NJFP Unmatched Fellows Revalidation For NJFP 2.0 Enrollment

© 2024 Golden News

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions
No Result
View All Result
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us

© 2024 Golden News