By Deborah Mustapha
The Daily News Nigeria has gathered recently that 80,000 Nigerians, who applied for the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) arranged for individuals and businesses as part of the Central Bank of Nigeria (CBN)’s N50 billion Targeted Credit Facility (TCF) should expect disbursements starting from next week.
The NIRSAL’s Managing Director, Abubakar Kure, disclosed this at a news conference in Abuja.
To recall that in March, the Apex bank unveiled the relief package to support households and Micro Small and Medium Enterprises (MSMEs) affected by the coronavirus pandemic.
Added that about 40,000 of the applicants, who requested for the credit were households while 30,000 were SMEs.
“The issue of the business plan was a requirement for MSMEs applications as stipulated by CBN guideline.
“At the start of the process, business plans which NIRSAL received from loan applicants were highly substandard and to ensure a high standard and efficient processing, an optional, automated business plan was provided by a service provider at a highly discounted fee.
“This is to avoid applicants being charged excessively by other consultants and to help people during the stay at home period and to make the application process easy. We got a third-party service provider to enable applicants to access the business plan through the internet,” Mr Abubakar mentioned.
However, these applicants hope for non-stop support even after COVID-19 pandemic.