CBN N5 Billion ‘100 for 100 PPP Loan’ Application Portal

The Central Bank of Nigeria (CBN) has begun selection processes of companies for its 100 for 100 Policy on Production and Productivity (PPP) loan. According to a statement by the CBN, the selection criteria for participation under the CBN 100 for 100 PPP shall base on a company’s contribution to economic growth, jobs creation, and social impact in the country.

The CBN 100 for 100 Policy on Production and Productivity (PPP) loan targets private companies who have a project to fund. They can apply for fund up to N5 billion under the scheme.

After your application, CBN would determine if the private company has a significant impact on the Nigerian economy through ‘Performance Indicators (KPIs)’. Qualified companies would be selected upon confirmation.

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The apex bank would screen and finance eligible private companies within 100 days and roll over every 100 days.

The CBN 100 for 100 PPP loan scheme is a financial instrument aimed at creating a smooth flow of finance and investments to enterprises with the potential to boost economic growth, accelerate structural transformation, promote diversification, and improve productivity.

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How the CBN 100 for 100 PPP Loan works

  • CBN would select 100 private companies who have projects with potential to significantly increase domestic production, reduce imports, increase non-oil exports, and economy growth.
  • The system will be rolled over quarterly (every 100 days) and new qualified set of companies selected for financing.
  • The initiative is funded from the CBN’s Real Sector Support Facility-Differentiated Cash Reserve Requirement (RSSF-DCRR) window (or any other funding window as may be determined by the central bank of Nigeria.
  • The maximum loan amount is N5 billion per obligor. However, any amount above N5 billion shall require special approval from the CBN Management.
  • Interests on monthly basis, on the fund shall be amortised and transferred quarterly with principal repayments to the Central Bank of Nigeria. Meanwhile, the interest rate under the intervention shall not be more than 5.0% p.a. (all-inclusive) up to 28th February 2022, thereafter, interest on the facility shall revert to 9% p.a. (all-inclusive) effective from 1st March 2022.
  • The Central Bank would monitor the progress of the company.
  • The CBN would set up comprehensive, regular monitoring of specific benchmarks and key performance indicators (KPIs) for selected companies.
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CBN N5 Billion ‘100 for 100 PPP Loan’ Application Portal

To apply for this opportunity, interested private companies should visit the CBN 100 for 100 PPP application portal at https://100for100ppp.ng.

Source: Nyscinfo

Updated: November 12, 2021 — 11:27 am

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