Through the CBN COVID-19 Grant initiative, currently, the Central Bank of Nigeria’s (CBN) application portal has been re-opened for Micro, Small, and Medium Enterprise (MSMEs) to access up to N25 million through NIRSAL Microfinance Bank.
Hurray! The Federal Government of Nigeria is committed to assisting sole enterprises and young business owners whose businesses were greatly affected by the COVID-19 pandemic.
This CBN Covid-19 Grant is aimed at businesses that were affected by COVID-19. It was disclosed by the Personal Assistant to President Muhammadu Buhari on New Media, Bashir Ahmad, via his Twitter handle on Wednesday.
He tweeted, “The CBN, through @NirsalMFB introduces a stimulus package to support households and MSMEs affected by the COVID-19 pandemic. An individual can access up to N25million.”
The NIRSAL MICROFINANCE BANK is on a mission to be an efficient National Microfinance Bank providing affordable products and services in Nigeria using appropriate technology and a well-motivated workforce. Additionally, to deliver transformative financial and non-financial services all over Nigeria
About NIRSAL Microfinance Bank
NIRSAL Microfinance Bank (NMFB) is a Nigerian Financial Institution licensed by the Central Bank of Nigeria (CBN) to carry out specialized banking services. NMFB was incorporated as a Private Limited Company in 2019 and commenced operations, following the grant of a National Microfinance Bank license by the Central Bank of Nigeria, in the same year.
In addition to the inherent responsibilities of the national license, NIRSAL Microfinance Bank is primarily an Intervention Bank; a viable channel for the on-lending of special funds from the Central Bank of Nigeria to qualified citizens of Nigeria. The Bank is Owned 75% by the Bankers Committee, 15% by NIRSAL, and 10% by NIPOST.
What you should know about the CBN Covid-19 Grant before Applying
- The Federal Government had announced that the MSME Survival Fund Payroll Support Portal would be exceptionally reopened for 30 states that had been unable to meet their quotas,
- The government, in its announcement, said that the scheme is aimed at supporting vulnerable MSMEs in the payroll obligations of over 500,000 employees.
How to Apply for The CBN Covid-19 Grant
To apply for the ongoing CBN Covid-19 Grant, applicants are advised to you have read all presented requirements.
- Next, Click here to visit the CBN Covid-19 Grant via the NIRSAL MICROFINANCE BANK Portal
- Select SME or household
- Fill in your BVN and submit