Free Processing for COVID-19 Loan – Here’s how to access it at NIRSAL

Following the lockdown which was initiated due to the coronavirus pandemic, the Central Bank of Nigeria introduced N50 billion Targeted Credit Facility (TCF) stimulus package. It is an intervention fund that will provide support to people and businesses that the lockdown affects most. They include households and micro, small and medium enterprises (MSMEs). The intervention fund and can be gotten from NIRSAL Micro-Finance Bank.

Reports have now been flying around social media that application for the COVID-19 relief fund requires payment. The Central Bank of Nigeria (CBN) is sending out a warning saying that application for N50bn COVID-19 loan is free.

Read Also: Daily earners in Nigeria likely to get relief fund from Federal Government

The public notice states that the news about payment is false and should be disregarded. CBN also states that the procedures for accessing the N50 billion support have been clearly spelt out. Parts of the statement also tells prospective applicants what to do:

“Prospective applicants are advised to approach NIRSAL Microfinance Bank or the CBN branch nearest to them for clarification on the procedure for accessing any of the CBN-related loans.

CBN also advises applicants to report irregularities to the Consumer Protection Department of the CBN via cpd@cbn.gov.ng or call 07002255226.

Follow us on Facebook and Twitter and send us stories on contact@africareinvented.com