NMFB Non-Interest AGSMEIS: How to Access N3m CBN Loan Without Collateral

Small businesses can get up to N3,000,000 (Three million Naira) in collateral-free loans from the Central Bank of Nigeria under the Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS).


The Scheme backs government policies that promote agricultural businesses and micro, small, and medium-sized enterprises (MSMEs) as drivers for long-term economic growth and job creation.

Objectives Of The Scheme

  • To improve access to affordable and sustainable finance by Agribusinesses, Micro, Small, and Medium Enterprises (MSMEs).
  • Create employment opportunities in Nigeria.
  • Boost the managerial capacity of agri-businesses and MSMEs to grow the enterprises into large corporate organizations in line with the Federal Government’s agenda to develop the real sector and promote inclusive growth.

Eligible Sectors/Businesses

  • Agriculture & Agro-allied Processing
  • Art & Entertainment
  • Automobile Services
  • Fashion and Dressmaking
  • Catering & Event Management
  • Courier & Delivery Services
  • Creative Industry
  • Apparels and Textiles
  • I.C.T
  • Cottage Industry
  • Media
  • Publishing
  • Telecommunications
  • Hospitality
  • Health Services
  • Welding and fabrication
  • Animal Husbandry
  • Cosmetics, Beauty, and Makeup Artistry
  • Electrical and Electronics
  • POP and Tiling
  • Carpentry
  • Masonry
  • Kerbs and Electric Pole making
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The Scheme’s financing will be used for start-ups, business expansion, or the revival of failing businesses. The following are the terms of the loans:

  • Loan amount: Up to N3,000,000
  • Interest: 5% per annum for regular and 0% for non-interest AGSMEIS
  • Tenor: Up to 7 years (depending on nature/gestation period of the project)
  • Moratorium: Maximum of 18 months for principal and 6 months on interest.

To Access The AGMEIS Loan, There Are Some Conditions That Must Be Met:

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  • Interested Applicants must undergo training by a CBN certified Entrepreneurship Development Institution (EDI)
  • Interested Applicants will apply for the loan through the CBN accredited EDI
  • The application will then be sent to CBN through NIRSAL MFB by the EDI, for processing.
  • Those qualified will be contacted and given the loan.
  • Fill clearly the form with all the details required, sign, and get them authenticated by the EDI.
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Requirements Either During The Application Or Before Final Approval/Disbursement

  • BVN
  • Certificate issued by a CBN certified EDI
  • Details of two (2) Guarantors
  • Valid ID card
  • A Business Plan provided by the EDI

How To Apply

Interested individuals should Click here to Apply

This information was first published on nyscinfo.comDMCA PROTECTED.

Source: Nyscinfo

Updated: June 9, 2022 — 10:02 am

The Author

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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  1. i have completed all that requires as regards nirsal loan application and my business plan is intact i have submitted it yet nirsal has not received my business plan what should I do pls

  2. Faruk Ibrahim Buwangal

    For those that have been àpply since one year back but yet didn’t receiving it

  3. Muhammad Isa Bulamarwa

    I want loan

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