The federal government, through the Central Bank of Nigeria (CBN) and NIRSAL Microfinance Bank (NMFB) has reopened the portal for Micro, Small and Medium Enterprises (MSMEs) and households affected by COVID-19 to access up to N25 million loan.
This disclosure was made by the Personal Assistant to President Muhammadu Buhari on Media, Bashir Ahmad, via his Twitter handle on Wednesday.
Ahmed tweeted, “The CBN, through @NirsalMFB introduces a stimulus package to support households and MSMEs affected by the COVID-19 pandemic. An individual can access up to N25million.”
The CBN, through @NirsalMFB introduces a stimulus package to support households and MSMEs affected by the COVID-19 pandemic.
An individual can access up to N25m.
Registration for fresh applications RE-OPEND!
Visit to register https://t.co/NPPh71eVNx kindly share for others.
— Bashir Ahmad (@BashirAhmaad) March 10, 2021
What is the interest rate for the loan?
The interest rate under the intervention is 5% per annum (all inclusive) up to February 28 2021 and thereafter, the interest on the facility will revert to 9% per annum (all inclusive) as from March 1st 2021.
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