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  1. Is your business or household affected by the lockdown caused by the COVID-19 pandemic? If ‘yes’, you can fill a Covid-19 Loan Support Form to get fund from the federal government, through the Central Bank of Nigeria. Requirements to get Covid-19 Loan Support in Nigeria Applicants must have a Bank Verification Number (BVN). If you don’t have BVN, go to the bank to create your BVN. You need a functional E-mail account. We recommend you use Gmail account. You can create a gmail account using your computer or mobile phone. Just visit www.gmail.com, then click “Sign up”, fill a form and submit. How to Register for Covid-19 Loan Support To access the Covid19 loan support application form, visit https://nmfb.com.ng/covid-19-support/ Once the form page open, select reason for loan application, then summit. There are different type of Covid19 loans Households: those their livelihood are negatively impacted. Microenterprises: Existing Enterprises affected by the pandemic. SMEs: Interprises that want to take advantage of opportunity arising from Covid19. After completing the loan application, it will display “Thank! Your application has been summited successfully“. Then, afters some days, you will get notification that your application for the loan has been approved. If you have a question, kindly go to the comment section below.
  2. NYIF, 10k Shortlisted Youth Await Training And Disbursement – After the initial pilot phase of the NYIF which saw 5,285 beneficiaries, another 10, 000 youth have been shortlisted for training after which they will be approved for funds disbursement under the NYIF. NYIF, 10k Shortlisted Youth Await Training And Disbursement The Ministry of Youth and Sports Development stated that out of the ongoing screening of over 3 million applicants for the NYIF loan, 10,000 have been shortlisted for training by the Ministry after which they will be approved for specific amounts. You may also want to check How To Apply For Bridge To MassChallenge Nigeria 2021 With the successful completion of this pilot phase NIRSAL has cleared names of another 10,000 for training and subsequent loan approval and disbursement. Loans are in the range of 250k to 3million naira for now. These names are available on the FMYSD website and NOYA website. Or kindly Open here. to view the names. Checks done include Age, BVN whether or not the individual has an existing government loan or received covid-19 business payments. All approved applicants will undergo training to ensure efficient use of the loan therefore increasing the yield and growth the loan can deliver to the intended business owner. 4. NYIF is initiative by the Federal government to invest in the innovation skills and enterprise of young Nigerians. The loan has a single digit APR at 5% and a moratorium of 12 months before repayment. Nigeria Youth Investment Fund was approved by Federal Executive Council in July 2020. This may also interest you FG Explained The Scope Behind Npower Batches ABC
  3. If you applied for the Nigeria Youth investment Fund (NYIF) and the COVID-19 Loans Targeted Credit Facility (TCF) to help households and businesses, Nirsal Microfinance Bank is massively approving applicants. CBN Disburses ₦400B-How to Get Your Fund into Your Account The CBN has given a breakdown of the number of funds disbursed to applicants of the COVID-19 Loans Targeted Credit Facility (TCF) to help households and businesses. Mr. Osita Nwanisiobi, the CBN’s Director, Corporate Communications Department explained that: 600,000 applicants had benefited from the various COVID-19-induced interventions so far. We disbursed N50bn at first. We moved to N100bn, to N300bn; today; we are talking about N400bn. The number of applications received so far is over eight million applications REGISTER FOR THE COVID-19 LOANS TCF In a one-day interactive session with organized labor and civil society groups on the five-year policy thrust of the CBN, in Enugu over the weekend, Mr. Osita Nwanisiobi told journalists that, TCF had helped Nigerians exit recession and post the current Gross Domestic Product growth rate of 5.01 percent. If You have not gotten your COVID-19 Loans Targeted Credit Facility (TCF) for households and businesses, see the number of applicants (8, 000,0000 plus), and applicants that have benefitted already (600,000) How to Get Your Fund into Your Account Mr. Osita Nwanisiobi, the CBN’s Director, Corporate Communications Department advised that: Applicants should upgrade and update their bank account Must Be a Nigerian Must Not be a loan defaulter Must have good credit rating Must Not have taken Loan from FG/CBN before Must Be must be below 35 years for TCF
  4. Fact about NIRSAL Non-Interest Loan Targeted Credit Facilities (500k/750k) The aim is to support households and Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic. It is a non-interest term facility targeted at small businesses for the financing of key assets for their businesses. The financing limit is N2, 500,000.00 for a tenure of 3 years with 6 months moratorium (a moratorium is a grace period granted to the customer by the bank to postpone the payment). The description of the NIRSAL Non-Interest Loan Targeted Credit Facilities (500k/750k) Product Name: Non-Interest Targeted Credit Facility (TCF-NI) Facility Type: Term Credit Facility Maximum Facility Amount: Household: N500,000.00 Profit margin: 9% per annum Maximum Payment Period: 36 months Global Standing Instructions: Should you default, payments will be recovered from your account. Note that you must accept this as part of the offer letter. Application Process: The process of the application will take place in three distinct phases: Phase 1: Application for Financing Apply for the TCF-NI facility by providing relevant personal information and the business to be financed. Phase 2: Acceptance of Offer and other Agreements You will be notified when your application is approved and required to do the following: Generate the Offer Letter and accept it Generate the Undertaking to Buy Agreement and accept it Input the details of the items to be financed. This must be confirmed with the approved amount as shown in your offer letter. You will finally attach invoices for all the items to be financed. Phase 3: Take delivery and Execution of Murabahah Agreement Upon fulfillment of Phase 2, wait for the disbursement of funds to the proposed vendor. The funds will be used to purchase equipment and raw materials from the vendor. Either NMFB or you as its agent will then be assigned to take delivery of the assets. After taking delivery, you will be required to execute the Murabaha agreement in the final stage of the contract. The main aim of this Non-Interest Facilities to Households is to assist all Households in the process of building a business or expanding an existing business and maintaining their lifestyle. Steps to Apply NIRSAL Non-Interest Loan Targeted Credit Facilities (500k/750k) Step 1: Choose if you’re a Returning Applicant or a New Applicant (Application Status). Step 2: Validate your BVN Details. Step 3: Fill in your BIO-DATA INFORMATION Step 4: Enter your Financial Information Select the purpose of the facility application select only one To purchase equipment or assets for home use To purchase equipment or asset to expand business Step 5: DECLARATION Step 6: Submit Note: Make sure that the unit cost of all the items you are using does not exceed the Financing Amount you are applying for. Your Financing Tenor in Months is 36 Months, and the Financing Moratorium in Months is 12 Months. Non-Interest SMEs Targeted Credit Facility (TCF) Our Non-Interest Facilities SMEs will assist you in the process of building a business or expanding an existing business and maintaining your lifestyle. Description Product Name: Non-Interest Targeted Credit Facility (TCF-NI) Facility Type: Term Credit Facility Maximum Facility Amount: SME: N750,000.00 Profit margin: 9% Maximum Payment Period: 36 months Global Standing Instructions: In case you default, payments will be recovered from your account. Note that you must accept this as part of the offer letter. Application Process: The process of the application will take place in three distinct phases: Phase 1: Application for Financing Apply for the TCF-NI facility by providing relevant personal information and the business to be financed. Phase 2: Acceptance of Offer and other Agreements You will be notified when your application is approved and required to do the following: Generate the Offer Letter and accept it Generate the Undertaking to Buy Agreement and accept it Input the details of the items to be financed. This must be confirmed with the approved amount as shown in your offer letter. You will finally attach invoices for all the items to be financed. Phase 3: Take delivery and Execution of Murabahah Agreement Upon fulfillment of Phase 2, wait for the disbursement of funds to the proposed vendor. The funds will be used to purchase equipment and raw materials from the vendor. Either NMFB or you as its agent will then be assigned to take delivery of the assets. After taking delivery, you will be required to execute the Murabaha agreement in the final stage of the contract. Steps to Apply for NIRSAL Loan SMEs Targeted Credit Facility Step 1: Choose if you’re a Returning Applicant or a New Applicant (Application Status). Step 2: Validate your BVN Details. Step 3: Fill in your APPLICANT DETAILS Step 4: Enter your PROMOTER INFORMATION Step 5: Enter your BUSINESS/DIRECTOR INFORMATION Is Promoter same as Director YES/NO (If yes fill in Business information, otherwise filling director Information) Select the purpose of the facility application Select only one To purchase equipment or assets for home use To purchase equipment or asset to expand business Step 6: DECLARATION Step 6: Submit Start Registration Here
  5. The management of the Nirsal Micro Finance Bank has given a new update regarding the misconception about the credit facilities under the Non-interest Banking Window of the Targeted Credit Facility (TCF). According to them, the loan is not cash. They are for the purchase of equipment and goods. Read details below. NMFB wrote: Dear Applicant, This is to inform you that ALL credit facilities under the Non-interest Banking Window of the Targeted Credit Facility (TCF) are for the purchase of EQUIPMENT/GOODS ONLY. There is NO CASH component to the facilities. All equipment/goods will be purchased for successful applicants by VENDORS APPOINTED BY NMFB and delivered to the beneficiaries within 48 hours after payment to the vendors. Customers are not expected to pay any vendor cash before or after the delivery of equipment/goods. Thank you for choosing NIRSAL Microfinance Bank. You may want to also read NMFB Begin Shortlisting Of New TCF & AGSMEIS Applicants What you should know about the NMFB’s Non-interest Banking TCF & AGSMEIS 1. NMFB’s Non-interest Banking TCF & AGSMEIS is a non-interest short-term facility targeted to small businesses for the financing of key assets for their businesses. 2. Who can apply? Nigerians from the age of 18 years whose businesses were affected by the Covid-19 Pandemic 3. Is the scheme designed for only Muslims? No! it is open to all Nigerians, irrespective of their religion. Non-interest Banking TCF & AGSMEIS is an alternative form of banking based on a principle of non-interest, sharing of risk and rewards, etc. 4. What is the difference between Non-interest TCF & AGSMEIS and the COVID-19 Targeted Credit Facility? The Covid-19 Targeted Facility Credit is a loan that will be repayable with interest, while the non-interest Banking TCF & AGSMEIS, the bank shares the profits from the investment with the beneficiary. It’s also important to note that non-interest banking TCF & AGSMEIS focuses on asset financing. Money is not a commodity, although it is used as a medium of exchange or store of value. 5. Can one apply for both Covid-19 TCF and TCF & AGSMEIS non Interest? No 6. What is the repayment plan? Not more than three (3) years, with at least six (6) months moratorium For more information, please log on to www.nmfb.com.ng You may want to also read New Update For COVID-19 Targeted Credit Facility (TCF) Applicants
  6. The CBN has given a breakdown of the number of funds disbursed to applicants of the COVID-19 Loans Targeted Credit Facility (TCF) to help households and businesses. Mr. Osita Nwanisiobi, the CBN’s Director, Corporate Communications Department explained that: 600,000 applicants had benefited from the various COVID-19-induced interventions so far. We disbursed N50bn at first. We moved to N100bn, to N300bn; today; we are talking about N400bn. The number of applications received so far is over eight million applications REGISTER FOR THE COVID-19 LOANS TCF In a one-day interactive session with organized labor and civil society groups on the five-year policy thrust of the CBN, in Enugu over the weekend, Mr. Osita Nwanisiobi told journalists that, TCF had helped Nigerians exit recession and post the current Gross Domestic Product growth rate of 5.01 percent. If You have not gotten your COVID-19 Loans Targeted Credit Facility (TCF) for households and businesses, see the number of applicants (8, 000,0000 plus), and applicants that have benefitted already (600,000) How to Get Your Fund into Your Account Mr. Osita Nwanisiobi, the CBN’s Director, Corporate Communications Department advised that: Applicants should upgrade and update their bank account Must Be a Nigerian Must Not be a loan defaulter Must have good credit rating Must Not have taken Loan from FG/CBN before Must Be must be below 35 years for TCF
  7. Npower Nexit Registration To Close As NASIMS Projects Number of Volunteers To Benefit From Loan Package: Recall the National Social Investment (NSIP) approved a special and secured site for the registration of disengaged batch A and B volunteers who were unable to register during the six months registration In no distant time, the https://tinyurl.com/d37ketty will close for the official take-off of the loan programme occasioned by CBN Unregistered volunteers are advised to make “hay while is it sunshine”, no more extension after this, as the portal will close for programme commencement At the end of the registration, the total number of volunteers who showed interest in the CBN loan programme will be ascertained and presented to the government for projection and feasibility study CBN is ready to disbursed loan as planned by the Federal Government. To this end, interested volunteers not registered are to follow the laid down procedure and register. How to fill and submit the NEXIT Registration form 1. Open the form https://tinyurl.com/d37ketty and allow it to load. 2. Fill in all the required N-power Information including Names, Phone Numbers, Email Addresses, DOB, etc. 3. Provide answers to the short questionnaire by selecting the options particular and interesting to you. 4. Click Submit NSIP has warned that: The NEXIT Portal has been officially closed. You can still have an opportunity to participate in the NEXIT Plan by filling and submitting the New Application Form. The form is for Batch A and B N-power Beneficiaries who are yet to complete their NEXIT Registration have alleged a deliberate exclusion from the NEXIT plan following the closure of the Registration portal All volunteers that have registered are to remain patient and wait for the Humanitarian ministry for the next call to action, Umar Farouq has consistently begged for perseverance on the CBN loan package, her lats wards reads: “Despite this, the exited beneficiaries are advised to exercise more patience and await the result of the efforts being made by the Honorable Minister who is currently engaging various MDAs including the CBN and the Federal Ministry of Agriculture and Rural Development to ensure that the eligible exited beneficiaries are transited to government progammes or even employment were available”-SADIYA UMAR 2020 “We have commenced the transitioning of beneficiaries from Batches A and B into government entrepreneurship schemes and engaging private sector bodies to absorb some beneficiaries after the completion of psychometric assessment to determine competency and placement into various opportunities” “The Federal government is committed to the continuation and expansion and as such will now begin enrolment and onboarding of a new Batch of beneficiaries” Skills acquisition for entrepreneurship and job creation are critical for an economy that will require a boost post-COVID-19 and we are gearing up proactively for the challenge.” Regarding the Batch C enrollment It also explained that the enrollment will provide opportunities for more Nigerian youths to access the programme, in furtherance of the President’s vision of lifting 100 million Nigerians out of poverty We have directed Focal Persons of NSIPs in all the states to submit an updated list and details of the exited N-Power beneficiaries that are interested in participating in the transition plans of the ministry
  8. In today’s latest Covid-19 loan update – We will be discussing how to claim your abandoned Covid-19 Loan. Many of you Applied for the Central Bank of Nigeria (CBN) N50 billion Targeted Credit Facility (TCF) as a stimulus package to support households and Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic and have lost their loans because they got the text below and thought it was a fake, and ignored it. It is not fake. It is real. You may want to also check Why Some Covid-19 TCF Applicants Have Not Received Their Loan If you applied for a Covid 19 palliative Loan, and you get this text above, simply go to the Targeted Credit Facility (TCF) COVID19 Beneficiary Information Management System(BIMS) website and type in your BVN. When you get inside if it tells you to put your account details, do that and then wait for the alert. But most times it will simply inform you that you have been approved, to simply print out the offer. Other times it will ask you if you accept or reject the loan, please, click accept. If you click reject by error, it becomes an issue. Claim your Covid-19 loan here https://covid19.nmfb.com.ng This may also interest you NMFB Gives Update On How To Avoid Loan Scammed
  9. The NG CARES is the federal government initiative with support from the World Bank to mitigate the effects of the COVID 19 pandemic. The National Covid 19 Action Recovery and Economic Stimulus (NG CARES) will assist vulnerable Nigerians who were hit by the pandemic. It is a multi-sectoral programme designed to provide immediate emergency relief to vulnerable and poor Nigerians, smallholder farmers, and small and medium enterprises that were adversely affected by the COVID-19 pandemic using the World Bank grant of $750m over a period of two years which is from 2021 2023″. You may want to also check How To Claim Your Abandoned Covid-19 TCF Loan Each state will receive the sum of $20 million dollars over a period of two years while the FCT will get $15 million and the Federal Care Support gets $15 million with effect from June 30, 2021. Target Businesses: a) Micro businesses (3 9 employees) b) Small businesses (10 50 employees) Application Supporting documents: 1) Proof of identification (NIN, Driver’s License, Voter’s Card. etc.) 2) Proof of residence (Utility Bills, Voters Card) 3) Proof of age (NIN, Voter’s Card, Driver’s License) 4) Proof of Bank Verification Number (BVN Printout duly stamped by the Bank) 5) Proof of business operations (Cash Book Register, Bank Statement, etc.) 6) Proof of business ownership (CAC Registration Documents, TIN) How To Apply For NG-CARES Stimulus Programme Interest applicants can apply through the NG Cares agents/enumerators in your communities or contact your community CDC Chairman, Women Leader, or Youth President for registration information forms have been shared with these persons This may also interest you Reasons Some Applicants Were Not Pre-qualified For NYIF Loan Disbursement
  10. If you applied for the NMFB CBN Covid-19 Loan last year and were not selected to benefit from the loan, we have good news for you. First, before we go on, here are Why Some Covid-19 TCF Applicants Have Not Received Their Loan. Check it out to know where your issue lied. However, according to Nirsal Microfinance bank, applicants who applied for a Covid-19 loan last year and were not given should reapply this year. The 2021 NMFB CBN Covid-19 loan application is ongoing right now, if you want to know how to apply see Link To Apply For 2021 NMFB CBN Covid-19 TCF Loan The NMFB CBN Covid-19 loan is a stimulus package introduces by the Central Bank of Nigeria (CBN) to support households and Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID19 pandemic. © copyright 2020 All rights reserved Npower Discussion Group
  11. If you applied for the NMFB CBN Covid-19 Loan last year and were not selected to benefit from the loan, we have good news for you. First, before we go on, here are Why Some Covid-19 TCF Applicants Have Not Received Their Loan. Check it out to know where your issue lied. However, according to Nirsal Microfinance bank, applicants who applied for a Covid-19 loan last year and were not given should reapply this year. The 2021 NMFB CBN Covid-19 loan application is ongoing right now, if you want to know how to apply see Link To Apply For 2021 NMFB CBN Covid-19 TCF Loan The NMFB CBN Covid-19 loan is a stimulus package introduces by the Central Bank of Nigeria (CBN) to support households and Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID19 pandemic.
  12. Today, we will be discussing What You Must Do If You Applied For Any FG Fund because we want you to get the support that you seek rather than losing it. So read on! This may also interest you Why Some Covid-19 TCF Applicants Have Not Received Their Loan Some of you who applied for the Federal Government fund such as the Covid-19 tcf loan, NYIF, AGSMEIS, applied with a student bank account which is not capable of receiving a huge sum of money, as such if your fund is approved and deposited into your account it will bounce back. So, if you applied for any FG fund, make sure your bank account is in order and can accept more than 250k. Do not use student account and likes when applying for Covid 19 Palliative Loan and NYIF and likes. You can always go to your bank and upgrade your account before using it for an FG fund application. All indication shows that some of the Covid 19 loans were approved but not paid and many of them fell under inappropriate account type. You may want to also read How To Claim Your Abandoned Covid-19 TCF Loan
  13. Are you an existing NMFB CBN Intervention – Covid-19 TCF, ABP, AGSMEIS, and NYIF Loan Beneficiary or On-balance sheet – Salad, petty now – now, SME plus loan Beneficiaries or a prospective loan applicant looking for ways to calculate your loan or target loan? If your answer is yes then read on. You may also want to check How To Claim Your Abandoned Covid-19 TCF Loan We have seen some loan applicants getting confused about not getting the exact amount of loan approved for them, some also complain about certain deductions from the approved loans so we decided to create this post to help you calculate your loan. How To Calculate Your Loan Using NMFB Loan Calculator Below is how to calculate your loan: For Beneficiaries: 1) Go to https://loancalculator.nmfb.com.ng/Benficiary 2) Select a product type 3) Enter your BVN to view the result or to calculate your loan. B) For Non-Beneficiaries/Prospective loan Applicants 1) Go to https://loancalculator.nmfb.com.ng/NonBenficiary 2) Enter your loan amount and the loan term ( number of years) and click calculate loan. This may also interest you How To Apply For NMFB AGSMEIS Loan 2021 Your loan result will be displayed in the following format: Loan amount, total Interest, 4% upfront charge, total Interest after upfront charge, and monthly amount due.
  14. For Applicants who are trying to apply for the NMFB CBN Covid-19 TCF loan but couldn't because of an invalid BVN issue or other technical downtime being experienced on the portal due to third-party validation services pertaining to loan application, we have good news for you. We have compiled these tips to help you on How you can successfully apply for the COVID-19 Targeted Credit Facility Loan for Nigerians! Read on. For Applicants applying for the household loan visit https://nmfbloans.nmfb.com.ng/covid19tcfhousehold For Applicants applying for microenterprises or SMEs loan visit https://nmfbloans.nmfb.com.ng/covid19tcfsme Click on “NEW” and then click on next. Your application reference number will pop up, kindly write it down or screenshot it. It will be required when you try to login to check the progress of your application. Then click on continue to proceed and then NEXT. The new page will request you to fill in your personal information, this includes, your bvn, names, state of origin, etc. Note, do not fill your bvn immediately. Kindly fill in your state of residence, enter your email, confirm your email, enter your marital status, phone number and then answer the rest of the questions you are allowed to answer. At this stage, you will notice you cant still edit your name, gender, and state of birth, kindly ignore and go ahead and fill in your bvn. Your bvn should be the last section to fill. In more clear terms ” Answer all the questions u were given access to. Then input your BVN and press next on your keyboard. This will boot the BVN and once your BVN is verified, all those columns which u couldn't access will automatically fill themselves”. Then click next to continue, if the page doesn’t move further, reload the page and try these steps again, but I am totally sure it will move to the next step. According to NMFB management, the Bank and its partners are working relentlessly to ensure that the technical downtime is resolved within the shortest time possible.
  15. The Central Bank of Nigeria has reopened its Application portal for interested Nigerians to Access up to N25 Million Targeted Credit Facility for COVID-19. A stimulus package to support households and Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID19 pandemic Interested Applicants are to visit https://nmfb.com.ng/covid-19-support for the Application guidelines. The Coronavirus Disease (COVID-19) pandemic has led to unprecedented disruptions to global supply chains, sharp drop in global crude oil prices, turmoil in global stock and financial markets, massive cancellation of sporting and entertainment event, the lockdown of large swaths movements of persons in many countries, and intercontinental travel bans/restrictions across critical air routes across the world. These outcomes have had severe consequences on households’ livelihoods and business activities, resulting from the drop in global demand, declined consumer confidence, and the slowdown in production. In this respect, the Central Bank of Nigeria (CBN) introduced the N50 billion Targeted Credit Facility (TCF) as a stimulus package to support households and Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic. Who Is Eligible? 1) Households: Households with verifiable evidence of livelihood adversely impacted by COVID-19 should visit https://nmfbloans.nmfb.com.ng/covid19tcfhousehold to apply. 2) Microenterprises: Existing enterprises with verifiable evidence of business activities adversely affected as a result of the COVID-19 pandemic should visit https://nmfbloans.nmfb.com.ng/covid19tcfsme to apply. 3) SMEs: Enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic should visit https://nmfbloans.nmfb.com.ng/covid19tcfsme to apply. How It Works Step 1: Submit An Application The process is easy. You can begin on your phone, your tablet or your laptop. Submit applications directly to NIRSAL Microfinance Bank (NMFB) with clear evidence of the opportunity or adverse impact as a result of the COVID-19 pandemic. STEP 2 Approval We review your application and forward the application to the CBN for final approval. STEP 3 Disbursement CBN reviews applications and gives final approval for disbursement to NMFB.
  16. On today's latest news on Covid19 TCF loan, the Nirsal Micro Finance bank NMFB has given a new update for Covid19 Applicant. According to the update, Applicants who applied for the Covid-19 in the following categories should follow the link below to check their loan approval status. Link To Check For Covid-19 Household And SME Loan Approval Kindly click on the links below to check if you have approval. 1) For Household: https://covid19.nmfb.com.ng/HomeLoans 2) For SME: https://covid19.nmfb.com.ng/SmeLoan In case you have forgotten when the NMFB Covid-19 Loan was advertised, Read it here Link For NIRSAL CBN Covid-19 Loan Application. note: the application is already closed, they are in the Disbursement stage now. For further enquiry, call NMFB Covid19 loan support on 09010026900
  17. According to a statement by the communications officer of the State Operations Coordinating Unit (SOCU) in the Bauchi State Ministry of Budget and Economic Planning, Mallam Yakubu Mudi, however disclosed That a 2.3 trillion naira stimulus package by the federal government to mitigate the effects of recession and economic impact of the Covid-19 pandemic in the country kicks-off tomorrow, Monday May 24, in phases across the country. This may interest you How To Apply For NMFB AGSMEIS Loan 2021 An initiative being overseen by the Ministry of Humanitarian Affairs, Disaster Management and Social Development, in partnership with the World Bank is tagged: “Covid-19 Rapid Response Register (RRR)’. With the phased approach beginning tomorrow, two states each per geopolitical zone would first rollout the registration, with Bauchi and Adamawa States from North East Zone commencing from May 24 to 31, of which Bauchi is already touting no fewer than 828 communities to benefit from the package. You may want to also read Why We Launched NSIP Information Management System For Npower Batch C – Sadiya Farouq A Few months ago, the humanitarian affairs Ministry launched the National Social Investment Program of Nigeria (NASIMS) portal, a social welfare initiative created by the Federal government of Nigeria in 2015 under the direction of the National Social Investment Office. The Program was created to ensure a more equitable distribution of resources to vulnerable populations, including children, youth, and women. Under President Muhammadu Buhari the office has created four programs to address poverty and help increase economic development.
  18. We noticed that there is massive approval of the NMFB Covid -19 loan for Applicants who have previously applied for the loan. The message is now been sent to selected Applicants and some of you may not know that you have been selected for the loan. If you received the message below, kindly click the link to accept your loan. Dear Applicant, Your COVID-19 Loan application is approved. Click https://covid19.nmfb.com.ng to accept the offer & get the funds in your account. The second message for those who are yet to accept the loan offer goes like this: Dear Applicant, You are yet to accept your Covid-19 TCF. Please do so before the close of business on 15/02/21 otherwise the funds will be recalled. Thank you. As seen above, the deadline to accept the loan offer is Monday 15th February 2021. So, Don't wait for massage if you applied for the loan just go to the site in the link above and check with your BVN. Read also Today's Latest Nigeria Youth Investment Fund NYIF News
  19. What FG Is Doing To Ensure Agriculture Transformation – VP Osinbajo According to VP Osinbajo, to ensure agricultural transformation in Nigeria, we have developed the following initiatives: The Economic Sustainability Plan, The National Livestock Transformation Plan, and The Green Imperative Project among others. Last year, we launched the Agriculture for Food and Jobs Plan (AFJP) @FmardPace under the Economic Sustainability Plan, in a bid to mitigate the impact of the Covid-19 Pandemic. Employing over 34,000 young graduates, we were able to register about 6 million small-holder farmers. You may want to also check AFJP – FMARD Target 8 Million Jobs By Employing Nigerians In Agribusiness We are creating a digital Agriculture Exchange Programme (AgExchange) with Alliance Rabobank, MasterCard, and Nigerian FinTechs. This will provide farmers with a range of services and products from off-takers to financiers. Earmarked budget for AFJP is $1.5b. For the National Livestock Transformation Plan (NLTP), our focus is on transitioning gradually from the nomadic system of cattle production to a more sedentary method. This, we believe will curb resource-based conflict and increase productivity. On the Green Imperative Project (GIP) front, there is a €995 million, a 5-year project funded by the Import/Export Bank of Brazil and other partners to transfer agriculture technology from Brazilian experts to Nigeria’s entrepreneurs, research institutes, and businesses. This May also interest you Green lmperative Agric Mechanisation Program Will Create 5M Jobs – FG The project will among other things, establish 632 privately-owned primary production support service centers, train about 100,000 new extension agents, and establish 142 privately owned agro-processing service centers to cater to farmer’s needs. An important feature of our strategy involves encouraging young tech entrepreneurs into the sector. Our Central Bank is also doing its part with regards to licensing. These entrepreneurs are vital to our overall financial inclusion plan through credit scoring and provision. I want to congratulate the African Development Bank, the International Fund for Agricultural Development, the Forum for Agricultural Research in Africa, and the CGIAR System Organization for hosting a successful event. This may also Interest you Eligible AFJP Farmers To Get Zero Percent Loan – FMARDPACE
  20. We noticed that some Nexit Applicants who got called to receive Covid-19 Loan are now scared to receive the loan in order not to miss the Nexit loan. It is better to receive the covid-19 loan than to miss the loan if really you are going to put the fund into use for business purposes so that you can be able to pay back the loan. Note that the Management of Nexit Programme has not given any update stating that Beneficiaries of the covid-19 loan will not benefit from Nexit loan. In our recent post Category Of Nexit Applicants To Likely Get High CBN Loan, we shared more light which may interest you. Both the Covid-19 and Nexit loan is for business purposes, it is not the usual Npower Stipends that Exited Npower Volunteers use to receive. When you are opportune to benefit from any of the mentioned loans, you are expected to invest the money into a sustainable venture in order to make a profit and payback. See Link For NIRSAL CBN Covid-19 Loan Application Whichever of the loan you are called to receive first, grab it with seriousness rather than letting it go. There are well-established businesses that can repay both loans. Nevertheless, if your business doesn't require a big amount of money to establish, go for the loan you can repay. At this point, you can let go of one. Read Why Exited Npower Volunteers Must Take Next Opportunity With Seriousness The Good thing about the Nexit CBN Empowerment options is that apart from the monetary aspect, there are other training that Applicants will benefit from.
  21. NMFB Gives Update On How To Avoid Loan Scammed According to NMFB, if anyone has contacted you regarding paying money to secure the COVID-19 Targeted Credit Facility or AGSMEIS Loan, we urge you to follow these six steps below to stop them from defrauding you: Call nmfb official contact number 094621730 for confirmation immediately with the scammer Stop all contact with the person as soon as possible Don’t delete any trail of communication with the scammer Report such correspondence on nmfb whistleblowing portal [email protected] Be mindful of fake website visit www.nmfb.com.ng Visit any NMFB Branch closest to you in person, as soon as you can You may also want to check out How To Apply For NMFB AGSMEIS Loan 2021
  22. CBN Governor – Godwin EmefieleCentral Bank of Nigeria (CBN) Governor, Godwin Emefiele, has dismissed the claim by the Edo State Governor, Godwin Obaseki, that the bank printed and shared money to states. The apex bank boss described the claim as “unfortunate and totally inappropriate.” Emefiele stated that printing money is a key mandate of the central bank, and the bank must always act to support the government at times of financial difficulties. Recall that Obaseki on Monday stated that the country is facing a serious financial crisis and called on the federal government to act quickly. Minister of Finance, Budget and National Planning, Zainab Ahmed, dismissed the claim, insisting the FAAC allocation was revenue from different agencies of the government. Also Read: Obaseki Replies Finance Minister, Asks FG To End ‘Monetary Rascality’ Speaking to journalists on Thursday, Emefiele stated that the federal government had disbursed loans to states to manage the economic difficulties occasioned by the COVID-19 pandemic. “If you understand the concept of printing of money, it is about lending money. There is no need for all the controversy around money printing as if we are going into the factory to print naira and then distribute on the streets,” he said. “It is very inappropriate for people to just give some coloration to the word ‘printing of money’ as if it is a foreign word coming from the sky. “In 2015/2016, we were in a similar [fiscal] situation, but it is far worse today. We provided budget support facility to all the states of the country and that loan remains unpaid till now. We are going to insist on the states paying the loan back since they are effectively accusing us of giving them loans. “Most countries of the world today are confronted by not just the health crisis from the COVID pandemic but also economic crisis. I keep saying this: it would be irresponsible of the central bank of Nigeria or any central bank to stand idle and refuse to support its government at this time. Whatever we do in Nigeria is being done in any clime. “Nigeria is unfortunately in a very bad situation and we cannot pretend about it in the sense that we are facing problems about productivity output which is gross domestic product (GDP). We are working very hard to see how we can get our heads above water. We are also concerned with issues of inflation. “For us to see some people playing some games, overheating his polity talking about printing of money, I think it is unfortunate and totally inappropriate. I would like to advise that this should stop. We should all work for the growth of our country and not play politics.”
  23. Abubakar MalamiThe Attorney General of the Federation and Minister of Justice, Abubakar Malami has announced that the federal government will commence the disbursement of a grant to small-scale business owners in Kebbi State soon. Malami made this known while speaking in Birnin-Kebbi on Monday through Dr Umar Gwandu, his Special Assistant on Media and Public Relations during the opening ceremony for the disbursement of N2 billion loan facilities to 549 entrepreneurs in Kebbi, under the Federal Government’s Agri-business Small and Medium Enterprises Investment Scheme (AGSMEIS). Also Read: National Assembly Has No Power To Summon Buhari – Malami He expressed that no fewer than 3,000 entrepreneurs in the state would receive the government’s post-COVID-19 grants to boost their business operations. The AGF said the government had observed that many small scale business owners suffered losses due to the COVID-19 outbreak in the country and subsequent lockdown, hence, the need for the government’s intervention programme. “Each of the entrepreneurs will receive an amount ranging from one million to five million”, under the scheme,” he said. The Minister noted further that about 200 wheelchairs would be distributed to People Living with Disability (PWDs) in Birnin-Kebbi during the first week of January 2021 as a measure to bring an end to the “acute shortage of water, as well as improve healthcare and hygiene, hundreds of boreholes were dug for rural communities through the KDI.” The post COVID-19: 549 Kebbi Entrepreneurs To Receive N2bn FG Loan ― Malami appeared first on Information Nigeria.
  24. On today's latest NMFB CBN Covid-19 Loan update, we will be sharing with you your answers to some of the questions you have been asking about the loan application. Check details below: Latest NMFB CBN Covid19 Loan Frequently Asked Questions And Answers Qn 1. I have complete the registration but I never knew if I have been accepted or not, what notification will I see if the register has been completed? Answer: You would be told to accept an offer if you have been approved. Qn 2. My loan was approved on Thursday, how long before I get paid? Answer: Please be patient. While you wait, please read Why Some Covid-19 TCF Applicants Have Not Received Their Loan and ensure to do the required things. Qn 3. Pls I can't transact on the account send to me...what can I do Answer: If the account is a loan account, it means you can't make a normal day-to-day transaction. Please visit your nearest branch for more details Qn 4. How long does it take to get an email notification, please? Answer: Please you would have to be patient. Once you have done what you can, the next step would be communicated Qn 5. Please, what's the local government certificate? Answer: It’s a certificate from your local government. Please visit your state Liaison offices. In addition, google it, please. Qn 6. When should we be expecting covid-19 Loan Approval Since Last Year June? Answer: Please try to re-apply Qn 7. I have not been able to verify my mail for the past 3weeks, I kept getting verification failed after receiving several verification messages from you guys. Please kindly assist. Answer: Please be patient. You would be informed of the next stage You may also want to check out Link To Apply For 2021 NMFB CBN Covid-19 TCF Loan Qn 8. I have applied for the loan for the past 2 weeks now but I have not received any notification as regards successful application. And how can I input my account details? Answer: Please be patient Qn 9. I applied for the households Program and received the fund, can I reapply for the SME? Answer: No you can't reapply until you have paid up the loan and you have been cleared Qn 10. What is the Covid-19 TCF Reference Number for? Answer: Your reference number is only USEFUL during the registration process. However, it is required if you are returning to the portal to finish the application. There is no need for it if you have completed your application. © copyright 2020 All rights reserved Npower Discussion Group
  25. On today’s latest NMFB CBN Covid-19 Loan update, we will be sharing with you your answers to some of the questions you have been asking about the loan application. Check details below: Latest NMFB CBN Covid19 Loan Frequently Asked Questions And Answers Qn 1. I have complete the registration but I never knew if I have been accepted or not, what notification will I see if the register has been completed? Answer: You would be told to accept an offer if you have been approved. Qn 2. My loan was approved on Thursday, how long before I get paid? Answer: Please be patient. While you wait, please read Why Some Covid-19 TCF Applicants Have Not Received Their Loan and ensure to do the required things. Qn 3. Pls I can’t transact on the account send to me…what can I do Answer: If the account is a loan account, it means you can’t make a normal day-to-day transaction. Please visit your nearest branch for more details Qn 4. How long does it take to get an email notification, please? Answer: Please you would have to be patient. Once you have done what you can, the next step would be communicated Qn 5. Please, what’s the local government certificate? Answer: It’s a certificate from your local government. Please visit your state Liaison offices. In addition, google it, please. Qn 6. When should we be expecting covid-19 Loan Approval Since Last Year June? Answer: Please try to re-apply Qn 7. I have not been able to verify my mail for the past 3weeks, I kept getting verification failed after receiving several verification messages from you guys. Please kindly assist. Answer: Please be patient. You would be informed of the next stage You may also want to check out Link To Apply For 2021 NMFB CBN Covid-19 TCF Loan Qn 8. I have applied for the loan for the past 2 weeks now but I have not received any notification as regards successful application. And how can I input my account details? Answer: Please be patient Qn 9. I applied for the households Program and received the fund, can I reapply for the SME? Answer: No you can’t reapply until you have paid up the loan and you have been cleared Qn 10. What is the Covid-19 TCF Reference Number for? Answer: Your reference number is only USEFUL during the registration process. However, it is required if you are returning to the portal to finish the application. There is no need for it if you have completed your application.
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