many Micro, Small and Medium Enterprises who are members of the organised private sector have decried their inability to access the loan offered by the Central Bank of Nigeria for MSMEs and household
impacted by the coronavirus pandemic.
The apex bank said the loan disbursements would be based on the activity, cashflow, and industry size of the beneficiaries. In addition, the CBN said all applicants to the N50bn credit facility that had successfully completed the application processes and submitted their account details should expect credit alerts 48 hours afterwards.
“Some households that were affected by the pandemic and applied in Lagos and got acknowledgement for their applications were not considered. So, who took the N50bn?”Also, the Chairman, SME Group at Lagos Chamber of Commerce, Mr Daniel Okezie, said none of the applicants to the N50bn CBN COVID-19 facility got the loan despite meeting all the criteria.
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