Central Bank of Nigeria (CBN) has begun to release funds from the N50 billion Targeted Credit Facility to Small and Medium Enterprises (SMEs) as well as households whose livelihood had been negatively affected by the Coronavirus outbreak.

Over 80,000 applications were received from SMEs and self-employed individuals, but the NIRSAL Microfinance Bank will only disburse the first batch of undisclosed funds to 3,256 individuals and businesses.

The fund is being awarded in form of a loan, which the beneficiaries are mandated to pay back as stipulated.

The Managing Director of NIRSAL MFB, Abubakar Kure, who flagged off the disbursement, warned the beneficiaries to utilise the loan as agreed upon as the bank would ensure repayment of the loan.

Beneficiaries of the funds

The N50 billion Targeted Credit Facility is a stimulus package from the Micro, Small and Medium Enterprises Development Fund. It was created for the SMEs and individuals who have proof that their businesses and households were adversely impacted by the pandemic which restricted movement and business activities.

Read More: https://allnews.ng/news/cbn-begins-fund-disbursement-to-smes-households-affected-by-coronavirus-outbreak

Who are the households? Which States?
In fact, why are things in secret even?


Can't we, atleast, be transparent in our dealings or transactions for once?

Just annoyed with these stupid charlatans in positions of power in this county.

Audio disbursement