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Supreme court affirms forfeiture of N1.58bn linked to former NIRSAL consultant
By Adebola Isimijola, Lagos The Supreme Court has upheld the forfeiture of N1.582 billion linked to a former National Coordinating Consultant of the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Steve Ogidan, to the Federal Government. According to a statement by the Economic and Financial Crimes Commission (EFCC), the apex court, in a judgment delivered on…
100,000 farmers stranded over NIRSAL refusal to disburse agric loans
100,000 farmers stranded over NIRSAL refusal to disburse agric loans
Over 100,000 potential farmers and small scale industrialists who had applied for different categories of loans ranging from N3 million to N10 million have been rendered stranded, following the refusal of the management of Nigerian Incentives Based Risk Sharing System for Agricultural Lending (NIRSAL) to disburse the loans to them at the end of a stipulated period. NIRSAL, a micro-finance bank…
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News: CBN calls on households, businesses to apply for N50bn COVID-19 loans
The Central Bank of Nigeria (CBN) announced that households and businesses affected by the COVID-19 can now apply for loans under its N50bn Targeted Credit Facility. The CBN explained that the stimulus package was to support households and Micro, Small and Medium Enterprises affected by the COVID-19 pandemic, adding that beneficiaries could access up to N25m. (more…)
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CBN/NIRSAL Loan 2021 – Access up to N25 millions for Households and MSMEs The Central Bank of Nigeria (CBN) in conjunction with NIRSAL Microfinance Bank, has reopened the portal for Small and Medium Enterprises and households to access up to N25 Million. The Central Bank of Nigeria in 2020 introduced a stimulus package with the aim of supporting Micro, Small and Medium Enterprises and households that were affected by the COVID-19 pandemic. 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, 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 drop in global demand, declined consumer confidence and 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. CBN/NIRSAL COVID-19 Loan- Who Is Eligible? Households: Households with verifiable evidence of livelihood adversely impacted by COVID-19 Microenterprises: Existing enterprises with verifiable evidence of business activities adversely affected as a result of the COVID-19 pandemic SMEs: Enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic. How the CBN/NIRSAL COVID-19 Loan 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 COVID-19 pandemic. Visit this link to read more https://utibeetim.com/cbn-nirsal-loan-2021-access-up-to-n25-millions-for-households-and-msmes/ #nigeria #nigerianwedding #nirsal #cbn #loan #naijaentrepreneur #naijabrandchick https://www.instagram.com/p/CMfZoU0J5Nc/?igshid=j7om5rbeq399
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239 youths get N166m NYIF pilot disbursements
239 youths get N166m NYIF pilot disbursements
The Nigeria Youth Investment Fund (NYIF) has completed its pilot disbursement of loans totaling N165,700,000 to 239 beneficiaries ahead of the processing of the over three million applications so far received. NYIF is driven by the Ministry of Youth and Sports Development. The fund, approved by the Federal Executive Council on July 22, 2020, is being implemented in partnership with the Central…
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Second quarter GDP outlook better than projected, says Presidency
Second quarter GDP outlook better than projected, says Presidency
The Presidency yesterday said that the country’s Gross Domestic Product (GDP) figures recently released by the National Bureau of Statistics (NBS) presented a better performance result of the economy in the first half of 2020.
In a reaction to perceived negative interpretations that trailed the -6.10 per cent GDP figure, the presidency explained that though the numbers were in the negative, they…
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