Barring any last-minute change in plans , the disbursement of the first tranche of the Central Bank of Nigeria N 50bn targeted credit facility would begin on Thursday.
The fund , which is being managed by the NIRSAL Microfinance Bank , has received over 80 ,000 applications .
The Managing Director , NIRSAL Microfinance Bank , Mr Abubakar Kure , confirmed the development in a telephone interview with our correspondent .
Kure , who did not provide the amount to be disbursed in the first tranche , said that those whose applications were successful would start receiving their fund on Thursday .
He said , “ But we are hopeful that towards Thursday or Friday , the disbursement of the fund would commence . ”
The CBN had introduced the N 50bn Targeted Credit Facility as a stimulus package to support households and Micro, Small and Medium Enterprises affected by the COVID -19 pandemic .
The N 50bn intervention is being financed from the Micro, Small and Medium Enterprises Development Fund .
In terms of limit , the loan amount would be determined based on the activity, cash flow and industry size of beneficiary , subject to a maximum of N 25 m for SMEs.
Households can access a maximum of N 3 m while working capital would be a maximum of 25 per cent of the average of the previous three years ’ annual turnover.
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 ; existing enterprises with verifiable evidence of business activities adversely affected as a result of the COVID - 19 pandemic and enterprises with bankable plans .
According to the CBN guidelines , activities covered under the scheme include agricultural value chain; hospitality ( accommodation and food services ); health ( pharmaceuticals and medical supplies ); and airline service providers.
Others are manufacturing / value addition ; trading and any other income- generating activities as may be prescribed by the CBN .

https://punchng.com/cbns-n50bn-covid-19-fund-disbursement-begins-thursday/

1. When did they release the guidelines?

2. Was there an advert placed in the papers or other media announcing that people should apply for the intervention funds?

3. When did they start receiving applications?

4. When did the applications close?

5. Why is this starting in the 4th week of a 4 weeks lockdown?

Nonsense

In the end the coordinators will grow fat bellies and marry more wives

A

This country is weird.

Devil dey learn work where this country dey.

Thieves

Dont wake me up.

was there any application forms ?

Lord!.. whats going on in this country ?
whats the use of BVN now?

How are they going to do it. Propaganda government.