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Home ECONOMY

CBN begins first batch disbursement of N50bn NIRSAL COVID-19 loan

by Sam Gabriel
June 28, 2021
in ECONOMY
14
CBN AGSMEIS Loan Form 2020/2021: How To Apply Without Collateral

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CBN begins first batch disbursement of N50bn NIRSAL COVID-19 loan – The Central Bank of Nigeria (CBN) through the Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL) Microfinance Bank has begun disbursement of the N50 billion Targeted Credit Facility (TCF), a stimulus package earmarked to support households and MSMEs ailing from the rampaging COVID-19 pandemic – Apply here!

The Managing Director of NIRSAL Microfinance Bank, Mr Abubakar Abdullahi Kure who made the disclosure in Abuja at a media briefing to unveil some of the beneficiaries said 3,256 MSMEs were benefiting from the first batch of the disbursement.

According to him, the disbursement will be a weekly occurrence, adding that beneficiaries will come from all parts of Nigeria.

He said: “The N50 billion was earmarked by CBN to incentivize businesses and households affected by the COVID-19 pandemic. We started disbursing the loan and they will get alert before the end of today.

“I hope it’ll help you restart your ailing businesses as SMEs.

“It’s not a grant but a trade facility to help SMEs battered by COVID-19 come back to operation. SMEs are the engine room of growth of the economy. Once you qualify, you would be given. You don’t need to know anyone in NIRSAL Microfinance Bank or CBN.

“The documentation process is ongoing. We started with Abuja because of convenience. We have 33 branches. Some of them are not functioning optimally because of the lockdown.

CBN begins first batch disbursement of N50bn COVID-19 loan
CBN begins first batch disbursement of N50bn COVID-19 loan

“You’re the first set of applicants. I encourage you to pay back so that other people can enjoy the facility”.

On some other of the challenges faced by NIRSAL Microfinance Bank in processing applications for disbursements, Kure said that many applicants are finding it hard to reach the office for interactions.

“We have hiccups as per restrictions of movement. Even to get people to do documentation is also hard. Some of the branches are shut down because of COVID-19”, he added.

On why the firm reduced the amount of money each applicant could get, Kure said the N50 billion cannot go round to all those seeking a slice of it, especially as the number of applications have grown from 80,000 to almost double that figure.

“Resources are dwindling and we reduced the amount given to beneficiaries just to accommodate more people.

“Number of applications have doubled. Some will be taken and some rejected but we have criteria for selection,” he explained.

Based on the CBN guidelines, intending beneficiaries must be households or business concerns with verifiable evidence of livelihood adversely impacted by

COVID-19; existing enterprises with verifiable evidence of their businesses being vandalized by the pestilence and enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic.

The guidelines further noted that activities covered under the scheme include agricultural value chain activities; 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.

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Sam Gabriel

Sam Gabriel

Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

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Comments 14

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  2. Pingback: COVID-19 intervention funds: We don’t know NIRSAL’s eligibility criteria, SMEs lament — ProNews Ng
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  4. Elizabeth Tina says:
    5 years ago

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    INTRODUCTION
    Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

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  5. Elizabeth Tina says:
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    LAVITA PACKAGES

    ₦10,000——–₦20,000❌❌❌
    ₦20,000——–₦40,000
    ₦40,000——–₦80,000
    ₦50,000——–₦100,000
    ₦100,000——₦200,000
    ₦200,000——₦400,000
    ₦400,000——₦800,000
    ₦800,000——₦1,600,000
    ₦1,000,000—₦2,000,000

    NOTE: we credit your account after 45min after registeration.

    INTRODUCTION
    Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    CONTACT NAME:- ELIZABETH TINA

    HOT LINE:+2349036369810

    ITS SIMPLE HERE !!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 20k within 45mins we make profit of 60k then send 40k to you then profit 20k. This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly.

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    Note:you get credited in less than 45mins.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

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  9. Elizabeth Tina says:
    5 years ago

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    lavita is a matrix system which give you DOUBLE of your CAPITAL back in (45 min) after registration

    LAVITA PACKAGES

    ₦10,000——–₦20,000❌❌❌
    ₦20,000——–₦40,000
    ₦40,000——–₦80,000
    ₦50,000——–₦100,000
    ₦100,000——₦200,000
    ₦200,000——₦400,000
    ₦400,000——₦800,000
    ₦800,000——₦1,600,000
    ₦1,000,000—₦2,000,000

    NOTE: we credit your account after 45min after registeration.

    INTRODUCTION
    Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    CONTACT NAME:- ELIZABETH TINA

    HOT LINE:+2349036369810

    ITS SIMPLE HERE !!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 20k within 45mins we make profit of 60k then send 40k to you then profit 20k. This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly.

    +2349036369810

    Note:you get credited in less than 45mins.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem. ?.

    Reply
  10. Janet John says:
    5 years ago

    AUCTION AUCTION AUCTION!!!!
    NIGERIA CUSTOM SERVICE IMPOUNDED VEHICLES 2020 AUCTIONING IS CURRENTLY ON GOING NOW .
    IMPOUNDED VEHICLES & DIFFERENT TYPES OF GENERATORS, FOR SALE AT CHEAP AND AFFORDABLE AUCTION PRICE INTERESTED BUYER SHOULD KINDLY CONTACT OR WATSAPP ME ON (07043069364) BAGS OF RICE AND VEGETABLE OIL FOR SALE IN A CHEAP and AFFORDABLE PRICE, BUYER SHOULD CONTACT me ON (07043069364) AVAILABLE VEHICLES AND THEIR AUCTION PRICES ARE:
    Toyota 4Runner #750,000
    Toyota Avalon #900,000
    Toyota Avensis #950,000
    Toyota Camry tiny light #450,000
    Toyota Camry muscle #850,000.
    Toyota Camry Big daddy #650,000
    Toyota Corolla #500,000.
    Toyota FJ Cruiser #2.M
    Toyota Hiace #1.5m
    Toyota Highlander #950,000
    Toyota Hilux #1.2m
    Toyota Matrix #600,000
    Toyota Prado #2m
    Toyota Rav4 #650,000
    Toyota Sequoia #950,000
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    Toyota Sienna #600,000
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    Toyota Tundra #2.5M.
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    Volkswagen Passat #600,000.
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    Acura MDX #1.3
    Acura TL #1M
    Acura ZDX #2M
    Audi A4 #500,000
    Audi A6 #650,000
    BMW 3-Series #650,000
    BMW 5-Series #980,000
    Ford Escape #600,000
    Ford Explorer #900,000
    Honda Baby Boy #500,000
    Honda Accord 03 EOD #860,000
    Honda Civic #500,000
    Honda Crosstour #1.1M
    Honda CR-V #750,000
    Hyundai Accent #950,000.
    Infiniti FX35 #1M
    Infiniti FX45 #1.2M
    Land Rover Discovery #3M
    Lexus ex 300 #800,000
    Lexus Rx330,#900,000
    Lexus Rx350,#1.4m
    Lexus Rx400, #2m
    RANG ROVER SPORT =#2.5M.
    Land Rover LR3 #950,000.
    MERCEDES BENZ DIFFERENT MODEL.
    NOTICE: THE PRICE OF THOSE VEHICLES DEPEND ON THEIR YEAR MODEL.
    ADDRESS =WE ARE LOCATED HERE AT OGUN STATE AT IDIROKO CUSTOM COMMAND BESIDES IKPOKIA LOCAL GOVERNMENT.THANKS FOR PATRONIZING WITH US.(NCS).

    Reply
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    5 years ago

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  12. Elizabeth Tina says:
    5 years ago

    *GOOD DAY MA/SIR*

    Have you had about *LAVITA RICCA INVESTMENT* ? am not talking about MMM or Ponzi SCHEME
    lavita is a matrix system which give you DOUBLE of your CAPITAL back in (45 min) after registration

    LAVITA PACKAGES

    ₦10,000——–₦20,000❌❌❌
    ₦20,000——–₦40,000
    ₦40,000——–₦80,000
    ₦50,000——–₦100,000
    ₦100,000——₦200,000
    ₦200,000——₦400,000
    ₦400,000——₦800,000
    ₦800,000——₦1,600,000
    ₦1,000,000—₦2,000,000

    NOTE: we credit your account after 45min after registeration.

    INTRODUCTION
    Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    CONTACT NAME:- ELIZABETH TINA

    HOT LINE:+2349036369810

    ITS SIMPLE HERE !!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 20k within 45mins we make profit of 60k then send 40k to you then profit 20k. This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly.

    +2349036369810

    Note:you get credited in less than 45mins.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem. ? ?…

    Reply
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    5 years ago

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    NOTE: we credit your account after 45min after registeration.

    INTRODUCTION
    Smile 2 Wealth Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Okafor Alex Monye with it’s Head Quarter’s in LAGOS state. You can find out more by visiting

    The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    NO+2347026536478

    ITS SIMPLE HERE!!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one partExample if you invest with 50k within 45mins we make profit of 150k then send 100k to you then profit 50k This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly.

    Note:you get credited in less than 45mins

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the neccessary actions, but the next time you want to complain about not having money, just know that you are your own problem.

    Reply
  14. Elizabeth Tina says:
    5 years ago

    *GOOD DAY MA/SIR*

    Have you had about *LAVITA RICCA INVESTMENT* ? am not talking about MMM or Ponzi SCHEME
    lavita is a matrix system which give you DOUBLE of your CAPITAL back in (45 min) after registration

    LAVITA PACKAGES

    ₦10,000——–₦20,000❌❌❌
    ₦20,000——–₦40,000
    ₦40,000——–₦80,000
    ₦50,000——–₦100,000
    ₦100,000——₦200,000
    ₦200,000——₦400,000
    ₦400,000——₦800,000
    ₦800,000——₦1,600,000
    ₦1,000,000—₦2,000,000

    NOTE: we credit your account after 45min after registeration.

    INTRODUCTION
    Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    CONTACT NAME:- ELIZABETH TINA

    HOT LINE:+2349036369810

    ITS SIMPLE HERE !!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 20k within 45mins we make profit of 60k then send 40k to you then profit 20k. This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly.

    https://api.whatsapp.com/send?phone=2349036369810&text=Am_in_interested_in_lavita_ricca_investment_how_do_i_register

    Note:you get credited in less than 45mins.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem. ? ? ?

    Reply

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