Covid19 Loan Frequently Asked Questions and Answers

On today’s update concerning the Nirsal Microfinance Bank (NMFB) and Central Bank of Nigeria (CBN) Covid19 Loan, we will be looking at some latest questions being asked by applicants regarding the loan scheme and the best answers to those questions. Before we proceed if you have not applied for Covid19 loan, click here to apply.

QUESTION: I completed the application process, but don’t know if I am being accepted or not, is there any special notification that will be sent?

ANSWER: Once your application is approved, you will be asked to accept an offer. Check your Covid19 loan application status.

QUESTION: My loan has being approved, when will I get paid?

ANSWER: Any approved application must definitely be paid, all that is required is patient, and ensure all things are done just as instructed.

QUESTION: I am unable to perform transactions with the account sent to me, is there any solution?

ANSWER: Anyone with a loan account can’t perform a normal day to day transaction. It is advisable to contact the nearest branch close to you for more details.

QUESTION: Please, how long does it take to receive an email notification?

ANSWER: The next step will be communicated to all applicant, kindly wait patiently as long as you did the right thing.

QUESTION: I don’t know what the Local Government Certificate is, please can you help?

ANSWER: This is a certificate issued by the local government where you hails from, you can contact the State Liaison office of where you come from.

QUESTION: I processed my application since 25th of June 2020, when should I expect my approval?

ANSWER: Kindly re-apply, as the time frame is too long.

QUESTION: For the past three (3) weeks I’ve being trying to verify my mail but to no avail, all I get as feedback was “Verification failed”. I need urgent assistance please.

ANSWER: It could be network issue, panic not, for you will definitely be informed about the next stage.

QUESTION: I previously applied for the household program and was funded, can I re-apply under the SME program?

ANSWER: You cannot re-apply until you have cleared the former loan.

QUESTION: My application for the covid19 loan was about two weeks ago, but I’m unable to input my account details, and yet to receive any notification about the success of my application. Any solution?

ANSWER: Just be patient, it will be resolved.

QUESTION: I am confused about the Covid-19 TCF Reference Number, Can I know what it’s all about?

ANSWER: The TCF Reference Number is only required during the registration, after which it’s of no use. Although those who are yet to complete the application process need it to access the portal.

You can share this information with others that wishes to apply for the NMFB CBN Covid19 loan, or have similar question(s) without answer(s) for a long time.