Did you apply for NEXIT Program? Are you a current beneficiary of any CBN program? If ‘yes’ you need to read this post to see why, you might not benefit from the NEXIT Loan.
The Federal Government of Nigeria has been assisting its citizens, especially the youths with soft loans, grants, training, and several empowerment programs that will enable them to earn a living.
Most of these programs that have to do with loan, are affiliated with the Central Bank of Nigeria (CBN), who captures all data of the beneficiaries into their database.
The NEXIT program, which is an empowerment program that is being run by the federal government, is specially meant for exiting beneficiaries of Npower (Batch A and B), and to be funded by CBN.
It is actually a loan program, and those who applied and did the needful are expected to be funded with the designated amount, which will be enough to start up business.
However, it has come to our notice that any applicant who must have benefited from other programs funded by CBN would not be accepted into the NEXIT beneficiary list.
Well, it pleases us to enlighten our readers that there might be some atom of truth even though it’s coming as a ‘RUMOUR’, since the authenticity of that statement is yet to be confirmed.
Normally, the Federal Government had given out loan to the masses through CBN who funds the accounts of beneficiaries. Such programs include NIRSAL, NYIF, Covid19 loan, Market Money, etc.
So, once you benefited from any of the above listed schemes, and failed to pay back when due, the system which already has your data will ensure you are being flagged out from NEXIT loan. And this will hinder the process, as they expect others who haven’t benefited from the government to enjoy such opportunity just as you have done before.
However, there is still possibility that even if you have benefited before from any governmental loan scheme funded by CBN, and paid back when due. You might be lucky to get NEXIT loan.
But know that the automated payment system used by CBN will always detect your status, and flag you out as a defaulter of previous loan scheme.
The only remedy for such applicants that must have benefited from any CBN funded program, is if the program will be funded by other agencies, e.g. Bank of Industry (BOI).
We hope all applicants get funded when it’s time for disbursement. Read also Nexit Loan Disbursement To Start Soon – FG.