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CBN Introduces N50bn Credit Facility For Households, Small Businesses Affected By Coronavirus



 

The Central Bank of Nigeria has announced that it would give a N50bn Targeted Credit Facility to households and small businesses affected by Coronavirus (COVID-19).

Those eligible according to the apex bank must prove that they, their livelihood and business operations have been adversely affected by the spread of the virus.

Businesses eligible for the scheme are agricultural value chain activities, hospitality, health (pharmaceuticals and medical supplies), airline service providers, manufacturing and value addition, and trading.

The maximum amount to be received depending on proof of cash flow of investment size is N25m while households can access N3m with an interest rate of 5 per cent per annum for a maximum period of one year.

The facility will be administered by the NISRAL Microfinance Bank and the Central Bank of Nigeria.

 

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13 Comments
  1. EDI64 says

    At least this is a very good development for the country.we just hope is not just on paper.

  2. Hartom says

    This is extremely unbelievable!!!! 😔 😔 😔 😔 😔
    May God save us in this country!!

  3. Gusty1796 says

    wow!!!, this is a really good welcomed development as it will help curb recession in this period.

  4. Otiman97 says

    How true is It ? Our system of gov is something else, they fed us with lies most time. I hope they keep to their promise

  5. ultimantum98 says

    Encouragement I think will be the best here kudos to our leaders that thought of something like this I encourage you oo

  6. Odere63 says

    I hope this is true. If it is, then kudos to the FG. I really like this and in happy about it.

  7. Christopher202034 says

    Woow!! A very big thanks to CBN, they av really try. I am happy to hear this

  8. Shadrach60 says

    Am happy about this if only it is true I pray for the federal government to do it

  9. Olarewaju10 says

    That’s nice, people are just to stay indoors to avoid the spread for now

  10. Reborn32 says

    How true is It ? Our system of gov is
    something else, they fed us with lies most
    time. I hope they keep to their promise.and i hope it will get to all citizin

  11. Destinyboy23 says

    If this is true then what I’m I waiting for
    I’m having challenges in business due to this deadly covid19
    On my way to give a tryer

  12. Donny71 says

    Am thankful to the leaders that thought of this. I pray they put it into practice and not mere saying it to the public

  13. Oyerinde Julius says

    Never knew about this,well thanks to CBN for contributing to the development of the country

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