CBN Set to Credit More Applicants for N50bn COVID-19 Fund
The Central Bank of Nigeria yesterday assured all successful households and small and medium scale enterprises applicants that have submitted their account details for its N50 billion COVID-19 Targeted Credit Facility that they would be credited within 48 hours.
Okorafor also said CBN had waived the requirement for the provision of guarantors by households and SMEs applying for TCF. Based on the CBN guidelines, those eligible beneficiaries of the fund are households with verifiable evidence of livelihood adversely impacted by COVID-19 and existing enterprises with verifiable evidence of activities adversely affected as a result of the COVID-19 pandemic.
“By the end of today, they should be able to receive alerts. The idea is to launch the products so that people will know that we have started disbursement,” the Managing Director of NIRSAL Microfinance Bank, Mr. Abubakar Kure, had said.
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