No Application Fee for N50bn COVID-19 Loan – CBN

By AdvocateNews on 14/04/2020

Share on facebook Yahoo mail icon Gmail icon

Views: 1,902


The Central Bank of Nigeria (CBN) has said it does not collect any form of charges on applications for its N50 billion COVID-19 loan facility for small-scale businesses.

The apex bank responded Monday to social media reports that it was demanding for application processing fees from loan seekers and owners of SMEs before they can access the facility.

The special loan fund was set up by the bank to help businesses cushion the economic effects of the COVID-19 pandemic in the country.

The statement by  CBN spokesman, Isaac Okorafor: “The attention of the Central Bank of Nigeria (CBN) has again been drawn to false reports in the social media circles that loan seekers and owners of small-scale businesses who apply for loans provided to cushion the effects of COVID-19 are required to pay a certain amount as application processing fee.

“For the avoidance of doubt, there are clearly spelt out procedures for accessing the N50 billion Targeted Credit Facility (TCF) stimulus package to support households and micro, small and medium enterprises (MSMEs) affected by the COVID-19 pandemic, which are disbursed through the NIRSAL Microfinance Bank (NMFB).

“Members of the public, particularly households and owners of small-scale businesses, are therefore advised to disregard any message requiring them to pay any amount to process their applications.

“Prospective applicants are advised to approach NIRSAL Microfinance Bank or the CBN branch nearest to them for clarification on the procedure for accessing any of the CBN-related loans. Any observed irregularities should be reported to the Consumer Protection Department of the CBN via cpd@cbn.gov.ng or call 07002255226.”

Posted 14/04/2020 04:34:59 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
NANS threatens mass protest, court action against FG,...

COVID-19: Schools resume January 18, FG insists

FG writes UK, USA over alleged hacking of...

Buhari’s ex-health minister’s son kidnapped at gunpoint

My father rapes me every night — 12-year-old...

Breaking: Gunmen kill three traditional rulers in Imo...

IPMAN orders sale of petrol at N150 per...

Buhari’s defence allocations hit N5tr, over 11,420 Nigerians...

Death toll in Imo explosion rises to 110...

Man, woman stoned to death for having illegal...

Enugu to hold LG election Feb. 29

How bandits abducted teachers of Kaduna Primary School...

 

Latest News Dead body disrupts flights at Lagos airport PDP Primaries: David Mark warns Atiku, Wike, others, says Guidelines won't be compromised Troops sweep IPOB/ESN’s hideout, seize arms, ammunition in Imo N80b Fraud: Accountant-General to remain in detention IPOB: No plan to suspend Facebook over alleged use to incite violence — FG Sanwo-Olu imposes total ban on Okada in 6 LGs, 9 LCDAs Gunmen attack Ebonyi LG boss’ home, kill 4, raze house EFCC arrests former NDDC MD over alleged N47bn contract fraud Court strikes out FG’s amended charge against Kanu Army major commits suicide 72 hours to Court Martial verdict Gunmen run riot in Nnewi South, raze LG buildings, allegedly kill soldiers, disarm vigilante operatives How my mum’s boyfriend defiled me – Six-year-old

 

Most Read Ex-Heads of State will protect Jonathan from persecution —Kukah (358,727 views) Sickle cell support group seeks government intervention (358,725 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (358,723 views) Ebonyi bans embalming of corpses in homes (358,722 views) I’ve no Coronavirus, govt wants to kill me – Anambra Index case (358,722 views) FG sends new directive to banks, schools as Buhari extends lockdown by four weeks (358,722 views) Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife to death arrested (358,721 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (358,720 views) ASUU strike: Senate intervention ends in deadlock (356,637 views) HUSHPUPPI: CRIMINALS HAVE NO TRIBE. THEY SHAME ALL OF US... (351,376 views) All you need to know about Peter Obi, PDP VP Candidate (289,623 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (289,561 views)

 

 

SECTIONS EDITORIAL (23) NEWS (9,037) FAITH (159) POLITICS (514) SOCIETY (135) SPORTS (65) BUSINESS (378) HEALTH (63) EDUCATION (51) ENTERTAINMENT (61) INTERNATIONAL (217) TECHNOLOGY (6) COLUMNISTS (57) LETTERS (4) OPINION (46)

 

 


There are no video entries posted yet.