50B Naira Covid19 Loan Fund CBN resumes payment to Beneficiaries CBN to Continue the payment of covid19 fund to More than 80,000 Beneficiaries this coming Thursday 2021, if you can remember Vividly about the Central Bank of Nigeria covid19 fund that was dispatched to people in order to contain the covid19 pandemic negative in impact in Nigeria and it’s Citizens.
This particular Covid19 Disbursement will see more than 80,000 Beneficiaries being paid and this disbursement will commence this coming Thursday, if you know you’er among those who applied for the CBN covid19 fund and you’er yet to be credited just be expecting your payment very soon.
The Central Bank of Nigeria N50bn targeted credit facility would continue on Thursday, Mr Abubakar Kure, the Managing Director, NIRSAL Microfinance Bank confirmed the development
“Applicants to the N50 billion credit facility, who have successfully completed the application processes and submitted their account details, should expect credit alerts 48 hours afterward”-CBN
How to Register for the CBN covid19 Loan Facility 2021
Interested and Qualified applicants should as matter of urgency submit their various bank account details in any bank of their choice.
The credit facility is aimed at providing financial relief to households and small businesses as they cope with the economic fallout of the pandemic.
The loan disbursements would be determined based on the activity, cash-flow, and industry size of the beneficiaries.
Each eligible SME will receive a maximum of N25 million while qualified households can access a maximum of N3 million each”
CBN 50B covid19 loan Fund Facility repayment Plan 2021
Once you get paid be informed that this is a government money no matter how long it takes you will pay back all you borrowed in full you can not outsmart the Government because they have access to all your Financial transactions in all the bank you make use of.
You’er advised to use the money Judiciously use it for what it was intended for, invest it in your business and also try paying back when due to avoid any form of confrontations with the government.
Secondly, what you see as credit alert is not what you borrowed, 4% interest and administration fee have been taking upfront, if for example you see N425,100 what you are paying back is N450,000.
The moratoriums are the grace period before deduction will begin and the repayment period is the no of installments. If it is 12 months, it means N450,000 not N425,100 divided by 12 and that is what you will start paying monthly from September.
Walk to any NIRSAL microfinance bank with your BVN to get your account number, you can upgrade the account with your password, ID card, Signature, and free to use the account like any other bank account.
If you have any questions please feel free to use the comment box below this article to ask your questions.
RELATED POST: ZHow To Apply For Survivalfund Guaranteed Offtake Scheme 2021ZZZZZ