CBN Offers N50 Billion Credit To Households, Businesses Affected By Coronavirus

Posted by E.L.E.X on March 26 2020 under News









A N50bn Credit Facility has been unveiled by the Central Bank of Nigeria a facility specifically to cater for the needs of households and small businesses that have and will be adversely affected by Coronavirus (COVID-19).

According to the CBN, those will be eligible for the stimulus package must prove that they, their livelihood and business operations have been adversely affected by the spread of the virus.

Businesses eligible for the scheme are agricultural value chain activities, hospitality, health (pharmaceuticals and medical supplies), airline service providers, manufacturing and value addition, and trading.

The maximum amount to be received depending on proof of cash flow of investment size is N25m while households can access N3m with an interest rate of 5 per cent per annum for a maximum period of one year.

The apex bank says facility will be administered by its officers and the NISRAL Microfinance Bank.




YOU MAY ALSO LIKE

Related Posts Pictures

Davido and Runtown call on President Buhari to resign following the gun attack on #EndSARS protesters in Lekki

Related Posts Pictures

Trump could start a civil war by not leaving the White House if he’s beaten by Joe Biden - Veteran filmmaker Spike Lee

Related Posts Pictures

OAUSTECH Struggle For immediate Resuscitation

Related Posts Pictures

GOD HELP US!! NCDC Announces 10 New Cases As Nigerian Death Toll From Coronavirus Rises To 5

Related Posts Pictures

FBI arrests 40-year-old Kenneth Ninalowo for $1.5 million money laundering in Chicago

Comments


Add Comment

All fields are required!








Contact Us Picture

Are you interested in Advert placement | Promoting your Music or Video | Other Enquiries? We are always available to get that done for you without breaking a sweat. Send us a mail @ elextechnologies4@gmail.com | Call us @ 08132021949 | Message us via whatsapp @ 08132021949