How to Apply for CBN AGSMEIS Loan in Nigeria (2021)

The Agric Small and Medium Enterprise Scheme (AGSMEIS) is an initiative of the Central Bank of Nigeria (CBN) to empower agric businesses across the country. In this post, you will learn how to apply for CBN AGSMEIS loan in Nigeria.

Be informed that CBN AGSMEIS loan application for 2021 is ongoing, we are here to show you how to apply for the loan.

With AGSMEIS, you can access up to N10million loan from CBN. The interest rate is just 5% without collateral.

Before we show you how to apply for CBN AGSMEIS loan, let’s give you more clarifications by answering some questions.

What is AGSMEIS?

Agric Small and Medium Enterprise Scheme (AGSMEIS) is an initiative of the Central Bank of Nigeriain in a bid to complement the Federal Governments’ efforts at promoting Agric businesses in Nigeria (both small and medium enterprises) as a vehicle for sustainable economic development.

The schem is a voluntary initiative of the Bankers’ Committee which was approved at its 331st meeting held on on February 9, 2017.

The scheme mandated all banks in Nigeria to set aside 5% of their anual profit after tax (VAT).

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The primary aim of the initiative is to support the government’s efforts and policy measures toward promotion of Agric businesses in the country.

What is the aim of Agric, Small and Medium Enterprise Scheme (AGSMEIS)?

The objectives of the scheme are to ensure;

  1. Small and medium enterprises have access to finance.

  2. Create employment opportunities in Nigeria.

  3. Development of agricultural value and sustainable agric practices.

  4. Boost the managerial capacity of Agric businesses for national development.

List of sectors eligible for CBN AGSMEIS loan

CBN MSMEs eligible sectors include;

  • Agricultural businesses
  • Health
  • ICT,
  • Education
  • Manufacturing/Production,
  • Services (Hospitality, Restaurants Catering, Services)
  • Mining,
  • Creative Industry (Fashion, Design, Crafts, Entertainment)
  • Others

How to Apply for CBN AGSMEIS Loan

CBN AGSMEIS Loan Conditions

Here are conditions that must be met begore you can access CBN AGSMEIS;

  • Applicant must have been trained by an Entrepreneur Development Institute (EDI)
  • Must apply for the loan through EDI, and from there the applications will be sent to CBN for processing.
  • Applicants will be called for an interview regarding his/her business, and those qualified will be contacted and given the loan.

Requirements for CBN AGSMEIS loan

Below are the loan requirements for approval and disbursement of funds to applicants;

  1. Business must be registered with Cooperate Affair Commission (CAC).

  2. Must privide evidence of tax payments

  3. Bank Verification Number (BVN)

  4. Letter of Introduction

  5. Valid government issued ID card

  6. Certification by an EDI

  7. Passport photo of applicant and guarantor

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Letter of Guaranty

Who can write letter of introduction for CBN AGSMEIS loan?

Any of the following can write the letter:

  • Your Pastor
  • LGA Chairman
  • Village Head
  • Chief Imam
  • CDA Chairman
  • Senior Civil Servant (above level 14)

AGSMEIS loan interest rate and duration

The loan interest rate is 5% for the first five years. Example: If you obtain N1million loan, you will pay back N1million + N50,000 throughout the duration of the loan.

How to apply for CBN AGSMEIS loan

Below are steps to apply for CBN AGSMEIS loan;

1. Get trained

You should attend a one-week compulsory training at a CBN certified Entrepreneurship Development Institute (EDI).

2. Apply for loan

Apply through Entrepreneurship Development Institute (EDI); they will help you to secure the loan.

3. Receive funds

Loans are paid into the bank account of the beneficiaries.

4. Get business support services

The Entrepreneurship Development Institute assists you to implement business plan and provide business support services commercially.

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List of CBN aproved EDC centres in Nigeria

Below is the list of CBN EDC centres in Nigeria and their addresses;

CBN-EDC, Ibadan (South West)

Their address is Old SDSTC (Oyo Oodua Skill Acquisition Centre Premises),Samonda, along Sango-UI Road, Ibadan, Oyo State, Nigeria. You can contact them via their website at

CBN-EDC, PortHarcourt (South South)

Their web address is Office address is at 30 Trans-Woji road, Grace plaza, by Slaughter Bridge Woji Town, Port Harcourt, Rivers State.

CBN-EDC, Maiduguri (North East)

Office address is, Old Informatics Institute, Njimtillo, Kano Road, Maiduguri, Borno State. Website is

CBN-EDC, Kano (North West)

The address is, Murtala Muhammed Library Complex, Kano, Kano State.

CBN-EDC, Makurdi (North Central)

Address: Off Jonah Jang Crescent, Near Federal Secretariat, Makurdi, Benue State.

CBN-EDC, Minna (North Central)

Address: Minna Innovation Institute, Behind Niger State Sharia Commission, Justice Ndajiwo Drive, Minna, Niger State.

CBN-EDC, Enugu (South East)

Address: Ebenezer Villa Suite 8, Ogenyi Close, Off Cornerstone Avenue, Off Nike Lake Resort Road, Enugu, Enugu State.

We will stop here, however, you can get more EDC address and contact at

Updated: February 24, 2021 — 11:03 am


Add a Comment
  1. I applied since last year 2020 of till know no disbursement.

  2. I’m interested pls or notify me on my phone,07062196915

  3. Ibrahim Tijjani danyaro

    Pls I need to disbursement my agsmeis loan

  4. Good day I by name ADAMU ABUBAKAR with my company name AA NMANA FARM And my phone number is +2347067352123 I applied for AGSMEIS loan since last year and attended the interview since that last year and hope to now have not been received approver or disbursement I don’t know what happened please I want you to look through my request and help me out thanks and may God bless you and put you through in all your activities Ameen

  5. iam business man in itas/gadau bauchi state Nigeria I like loan to help my business

  6. Please sir how can enroll for the training and the loan am staying in ogun state my name is


    I am really happy about what our CBN is doing,just to leaft us and have and have something doing, Business Man is better than Government worker, I believe in Business and Rearing of Alimals, May Allah bless you and us, and our Nigeria,

    1. Pls I need to disbursement my agsmeis lo loan

  8. Okorie chisom festus

    I am mr okorie chisom festus. Am from abia state,but base at warri in Delta state. I need a loan to improve my bird poultry. I will be greatful if my request is granted.thanks

  9. Pls notify me of any news update

    1. Iam business man I need loan from CBN please

  10. Please I need contact for CBN-EDC Abuja branch for the training.

  11. Environmental

  12. adamu kasimu dauda

    Angwan SANGARI namu quan,an pan plateau state

  13. Iam business man in Bunza,kebbi state nigeria,l want loan to help me for my business like fertelizer cement and others


    Humphery, I appreciate getting to know you at this point in my life when I am at the verge of retirement (left with 2/3 years to go) from my teaching service carrier with nothing to fall back or hope on, with a lot of debts that have even consumed the remaining salary yet to come. How do I start from here sir?

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