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CBN Still Supporting Businesses, Households With Covid-19 Loan

Ebuka Daniel

The Central Bank of Nigeria has said that it is still supporting businesses and households with the disbursement of the Covid-19 loans.

The apex bank said that households and businesses affected by the COVID-19 can still apply for loans under its N50bn Targeted Credit Facility.

It said 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.

This was disclosed in a tweet by the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending Microfinance Bank.

The NIRSAL microfinance bank stated that interested households and businesses could apply via link posted in the tweet.

On the concept of the TCF, the bank explained that the COVID-19 pandemic had led to unprecedented disruptions to global supply chains, sharp drop in global crude oil prices, turmoil in global stock and financial markets, among others.

It said these outcomes had had severe consequences on households’ livelihoods and business activities, resulting from drop in global demand, declined consumer confidence and slowdown in production.

The bank hasld warned Nigerians to beware of fraudulent alert  and some unethical practices being carried out by  individuals who disguises as its staff or agents.

The Bank warned that the public not to patronise scammers who demanding for money from unsuspecting members of the public purportedly to secure COVID-19 Targeted Credit Facility or the AGSMEIS Loan.

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