CBN Ready To Commence Disbursement Of Nexit Loans To 300,000 N-POWER Beneficiaries

The Federal Government said on Thursday that roughly 300,000 N-Power beneficiaries would be eligible for loans from the Central Bank of Nigeria (CBN).

Hajia Sadiya Umar Farouk, Minister of Humanitarian Affairs, Disaster Management, and Social Development, made the announcement at the Presidential Villa in Abuja during the weekly ministerial media briefing hosted by the Presidential Communications Team.

She stated that the government planned to enroll roughly 300,000 people in a training program, with the CBN providing them with loans.

The minister said:

“On the N-Power, thank you for bringing that up and you asked another question if anybody really benefited from the N-POWER programme.

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“We have 500,000 that have been on the programme, with Batch A and Batch B being on the programme for four years and two years.

“The Batch A was on the program for about four years and we were giving them N30,000 stipends monthly. And the Batch B benefited for two years.

“So yes, the N-power beneficiaries have benefited because these are people who were not employed, who had nothing to do, were engaged and were being paid stipends to used to earn a decent living.

“On the exit programme. Yes, we have an exit strategy in partnership with the Central Bank of Nigeria.

Source: Nyscinfo

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Updated: February 19, 2022 — 8:02 pm

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Stephen Adoga

Stephen Adoga is a trained journalist, researcher, creative writer, content creator, video editor and freelancer. He studied Mass Communication at the Lagos State Polytechnic, Ikorodu, where he acquired requisite training for the practice of journalism. He loves the media. His interest mostly lies in the print medium where his creative writing skill makes him a perfect fit.

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