Federal Government has started the Disbursement of the CBN Covid-19 Loan to Successful Beneficiaries accross the country.
Also Read: How to Login to N-POWER NEXIT Portal: NPower NEXIT Registration
CBN introduced a N50 billion Targeted Credit Facility (TCF) as a stimulus package to support households and micro, small and medium enterprises (MSMEs) that are affected by the coronavirus pandemic.
The broad objectives of the CBN’s N50 billion Targeted Credit Facility include:
- Cushion the adverse effects of COVID-19 on households and MSMEs;
- Support households and MSMEs whose economic activities have been significantly disrupted by the COVID-19 pandemic.
- Stimulate credit to MSMEs to expand their productive capacity through equipment upgrade, and research and development.
Successful applicants who applied for the CBN Covid 19 loan has started receiving congratulatory messages.
Also Read: NPower NEXIT Registration Portal: How to Register for NEXIT CBN Empowerments