FG Approves N50bn Facility To Succor Households Over COVID-19

Have you, your business or household been adversely affected by the ravaging corona virus, if yes, then you are entitled to financial succor of varying amount of money.

This is because the Central Bank of Nigeria (CBN) has made available, up to N50billin in support is up for disbursement to Nigerian households and businesses that have been adversely affected by the ravaging corona virus pandemic.

But that is on the condition that they can prove it.

This is the latest of initiatives from the Central Bank of Nigeria (CBN) aimed at ameliorating the negative consequences of the pandemic since it broke or as it lasts.

The apex bank says firms eligible for the package include those in the agricultural value chain, hospitality, health (pharmaceuticals and medical supplies), airline service providers, manufacturing and value addition, and trading.

At least N25 million is approvable under the scheme but this is dependent on cash flow considerations while households can access as much as N3m with an interest rate of 5 per cent per annum for a maximum period of one year.

The apex bank says facility will be administered by its officers and the NISRAL Microfinance Bank.