Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes - Politics

Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes (4814 Views)

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Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by eddie7(op): 4:47pm On Dec 10, 2025

The House of Representatives on Wednesday asked the Central Bank of Nigeria (CBN), NIRSAL Microfinance Bank, and the Federal Ministry of Finance, to immediately suspend all deductions on COVID-19 intervention loans, while granting total waiver on the outstanding COVID-19 intervention loans owed by vulnerable households and micro-businesses.

In a resolution following a motion of urgent public importance sponsored by the Deputy Chairman of the House Committee on Finance, Saidu Musa Abdullahi, the House asked the relevant agencies of government to put into consideration the inability of Nigerians to pay back the loan due to current harsh economic conditions.

It mandates the Central Bank of Nigeria(CBN), NIRSAL Microfinance Bank, and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to restructure repayment terms for SMEs by extending moratoriums, reducing interest rates, and spreading repayment over longer timelines, in order to safeguard jobs and prevent business collapse.

https://thenationonlineng.net/reps-seek-suspension-of-deductions-on-covid-19-loan-waiver-for-vulnerable-homes/

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Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by isholapeter9(m): 5:01pm On Dec 10, 2025

Then don deduct my money this morning oooo...... chai

eddie7:
The House of Representatives on Wednesday asked the Central Bank of Nigeria (CBN), NIRSAL Microfinance Bank, and the Federal Ministry of Finance, to immediately suspend all deductions on COVID-19 intervention loans, while granting total waiver on the outstanding COVID-19 intervention loans owed by vulnerable households and micro-businesses.

In a resolution following a motion of urgent public importance sponsored by the Deputy Chairman of the House Committee on Finance, Saidu Musa Abdullahi, the House asked the relevant agencies of government to put into consideration the inability of Nigerians to pay back the loan due to current harsh economic conditions.

It mandates the Central Bank of Nigeria(CBN), NIRSAL Microfinance Bank, and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to restructure repayment terms for SMEs by extending moratoriums, reducing interest rates, and spreading repayment over longer timelines, in order to safeguard jobs and prevent business collapse.

https://thenationonlineng.net/reps-seek-suspension-of-deductions-on-covid-19-loan-waiver-for-vulnerable-homes/

1 Like

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by omoredia: 5:40pm On Dec 10, 2025

They deceive Nigerians with free stuff so that they can steal more from them. Theives love to deguise their stealing with acts of generosity and philanthropy

4 Likes

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by ATEAMS: 5:40pm On Dec 10, 2025

Loan waiver is a good idea in a time like these .

3 Likes

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by bewla(m): 5:41pm On Dec 10, 2025

Let me read and comment later o

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by jmoore(m): 5:42pm On Dec 10, 2025

I was applying UK visit visa for a client and suddenly she called and started crying they deducted money from her account as covid19 loan repayment.

2 Likes

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by Leepeak(m): 5:43pm On Dec 10, 2025

Hmmmmmmmmmmm
Nigeria jaga jaga everything scatter scatter
Poor man dey suffer suffer
Tinubu I regret voting you
Even if I didn't vote will my vote count

2 Likes 1 Share

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by Possican(m): 5:47pm On Dec 10, 2025

Hope the GSI they triggered on my account will be suspended, because I can't afford to pay and NIRSAL kept making life very difficult for me by usage of GSI to collect any money that enters my account. Even my business is stargarring due to the current Economic hell fire we are into in this country.

3 Likes

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by chinjay: 5:48pm On Dec 10, 2025

This is a very good development from the house of Representatives, Nigerians will be grateful if the cbn respects the order.

eddie7:
https://thenationonlineng.net/reps-seek-suspension-of-deductions-on-covid-19-loan-waiver-for-vulnerable-homes/

2 Likes

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by donmik: 5:52pm On Dec 10, 2025

He is only asking the CBN and NIRSAL to suspend the deduction. It hasn't been passed by the house yet. Again, the financial bodies may decide not to heed the call if later contacted by the lower chamber.

Well, it's a thing of fraud from one leder to another. How could some persons stand to enjoy a national cake while others don't have privilege to it as equal citizens?

Error + Error = Disastrous confusion

Buhari didn't mean people repaying it but here we find a leader who can even tax the ant if possible

4 Likes

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by Kaycee9242(m): 5:55pm On Dec 10, 2025

A friend of mine own is that they collected double of what they were suppose to collect, he has been going to micro finance bank every day but all to no avail

1 Like

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by Dronedude(m): 5:58pm On Dec 10, 2025

Omo I heard they deduct money from people's account indiscriminately. Although what did people that collected the loan expect when they were collecting it. Maybe they thought it was National cake

2 Likes

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by kaywhy09(m): 6:10pm On Dec 10, 2025

The day they removed 150k from my account, it was a disaster embarassed

Not even my money, they cleared it all.

2 Likes

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by kaywhy09(m): 6:11pm On Dec 10, 2025

Dronedude:
Omo I heard they deduct money from people's account indiscriminately. Although what did people that collected the loan expect when they were collecting it. Maybe they thought it was National cake

There wasn't clear repayment means/platform.

1 Like

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by nicason(m): 6:36pm On Dec 10, 2025

isholapeter9:
Then don deduct my money this morning oooo...... chai

Mine 509k was deducted from me , it's so painful

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by Ikaeniyan0: 6:47pm On Dec 10, 2025

donmik:
He is only asking the CBN and NIRSAL to suspend the deduction. It hasn't been passed by the house yet. Again, the financial bodies may decide not to heed the call if later contacted by the lower chamber.

Well, it's a thing of fraud from one leder to another. How could some persons stand to enjoy a national cake while others don't have privilege to it as equal citizens?

Error + Error = Disastrous confusion

Buhari didn't mean people repaying it but here we find a leader who can even tax the ant if possible

Can you provide evidence the government claim the loan is for free?

2 Likes

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by buttlover(m): 7:24pm On Dec 10, 2025

The day they deducted 60k from my account, I immediately withdraw all to Opay. I was mad. My rent was due then. A Covid19 fund that was supposed to be an alleviation to families. That account up to now I have never put money there, only using OPAY for now

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by Ulunne777(f): 8:12pm On Dec 10, 2025

buttlover:
The day they deducted 60k from my account, I immediately withdraw all to Opay. I was mad. My rent was due then. A Covid19 fund that was supposed to be an alleviation to families. That account up to now I have never put money there, only using OPAY for now

😁😁.Dey play
As long as you are using the same bvn linking them,they will still access it

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by Ulunne777(f): 8:14pm On Dec 10, 2025

When we got the information and the man came for sharing formula then I asked him "perchance they start collecting the money back will he be available to pay it?"
He said no it's a grant even though I insisted it was a loan.He ran

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by jpride(m): 8:40am On Dec 11, 2025

Brother even your Opay is unsafe, except it wasn't linked to your bvn

buttlover:
The day they deducted 60k from my account, I immediately withdraw all to Opay. I was mad. My rent was due then. A Covid19 fund that was supposed to be an alleviation to families. That account up to now I have never put money there, only using OPAY for now

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by jpride(m): 8:46am On Dec 11, 2025

I don't even keep kobo in my commercial banks anymore. I open different online banks and left them on tier one (no bvn linkage), to be safe. As money dey enter any commercial bank, I dey move am sharp ally.

Covid-19 loan wen I no use do anything meaningful.

Buhari was lenient on this until this short man came into power.

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by Arda1000(m): 12:46pm On Dec 11, 2025

This country sef.
I usually run from anything government funds….. very wicked people now they are collecting more than what they gave people saying it’s interest.
APC and wickedness are synonymous.

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by We4all: 12:55pm On Dec 11, 2025

They shouldn't do that rubbish. CBN workers and politicians used COVID-19 loan to cash out. They gave people loans, and ask them to remit between 10 and 50 percent of the loan amount to them.

Instead of investigating how fraudulently the loan was disbursed, they are asking for a waiver to cover their tracks. No wonder Nigeria was described as a fantastically corrupt country. Smh...

Re: Reps Seek Suspension Of Deductions On COVID-19 Loan, Waiver For Vulnerable Homes by schoolboymatt(m): 5:08pm On Dec 11, 2025

hand don finally reach me cry

in pain right now.. still dey do me like film trick. money wey I wan use package till nexr year, dem wipe everything leave 2.3k

my question now is...does the GTI debit mandate work on opay?

because I have linked my bvn to it.

planning on moving any incoming funds there.

1 Reply

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