CLPROMOTERS

Promotion At It's Best

  • Home
  • News
  • Entertainment
  • Music
  • Videos
  • Promote / Advertise with us
» Media Personality » News » Trending » CBN Lists Conditions To Access N50bn Covid-19 Intervention Fund

CBN Lists Conditions To Access N50bn Covid-19 Intervention Fund

Casi Henry Raymond
Add Comment
Media Personality, News, Trending
Wednesday, March 25, 2020

The Central Bank of Nigeria has listed the conditions that must be fulfilled by individuals and companies willing to access its N50bn intervention fund.
The apex bank had last week unveiled the fund in response to the coronavirus pandemic, which had led to unprecedented disruptions to global supply chains, sharp drop in global crude oil prices, turmoil in global stock and financial markets, lockdown of large swaths movements of persons in many countries, among others.
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 CBN introduced the N50bn Targeted Credit Facility as a stimulus package to support households and Micro, Small and Medium Enterprises affected by the COVID-19 pandemic.
Based on the guidelines released by the CBN, those that can benefit from the fund are households with verifiable evidence of livelihood adversely impacted by COVID-19; existing enterprises with verifiable evidence of business activities adversely affected as a result of the COVID-19 pandemic and enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic.
According to the CBN guideline, activities covered under the scheme include agricultural value chain activities; hospitality (accommodation and food services); health (pharmaceuticals and medical supplies); and airline service providers.
Others are manufacturing/value addition; trading and any other income-generating activities as may be prescribed by the CBN.
The guidelines said the scheme would be financed from the Micro, Small and Medium Enterprises Development Fund.
It said the eligible participating financial institution for the Scheme would be NIRSAL Microfinance Bank. In terms of loan limit, the apex bank said the loan amount would be determined based on the activity, cashflow and industry size of beneficiary, subject to a maximum of N25m for SMEs.
It said households can access a maximum of N3m while working capital would be a maximum of 25 per cent of the average of the previous three years’ annual turnover


Copy the link below and Share with your Friends:

Are you an artiste? Do you want your music to go viral and reach a large number of audience? Promote your music on CLpromoters by clicking here. You can also advertise your product or brand by clicking here.

Tweet
CBN Lists Conditions To Access N50bn Covid-19 Intervention Fund Title : CBN Lists Conditions To Access N50bn Covid-19 Intervention Fund
Description : The Central Bank of Nigeria has listed the conditions that must be fulfilled by individuals and companies willing to access its N50bn i...
Rating : 5
Related Posts: Media Personality, News, Trending

0 Response to "CBN Lists Conditions To Access N50bn Covid-19 Intervention Fund"

← Newer Post Older Post ⇒ Home
Subscribe to: Post Comments (Atom)

Subscribe to Our Updates

Subscribe Here

Sign up here with your email address to receive all our updates in your inbox.

Trending Posts

  • [Music] Chief Akunwata Ozoemena Nsugbe – Uzu Awka Special
      Chief Akunwata Ozoemena Nsugbe – Uzu Awka Special Egwu Ekpili father, Chief Akunwata Ozoemena Nsugbe(Ayaka Igbo Nile) and his Oliokata si...
  • SPONSORED: StableDoc Token - Digital Health Meets Blockchain Technology
    StableDoc Token StableDoc is a new  generation Token that has been designed into the blockchain Technology, which allow its holders or owner...
  • Drake Breaks ‘Billboard Hot 100’ Record
    Drake’s “In My Feelings” is the number one single on the Billboard Hot 100 for the 10th week straight. After spending this year cross...
  • [Music] Hillsong UNITED – Spirit Lead Me (Oceans) [Mp3 + Lyrics]
    You can now download OCEANS (Where My Feet fail) For Free by Hillsong UNITED, The song is led by Taya Smith, and was written by Matt Cr...
  • [Music] MR H2 – Ije Obodo Oyibo
    “Ije Obodo Oyibo” Is a song that touches all works of life with undiluted truth about life in abroad. As writing and recorded by Mr ...
  • Gigi Hadid flaunts armpit hair in LOVE shoot
     Gigi Hadid eased up on shaving her armpit hair for Love advent calendar. However,fans were divided on the supermodel’s look. In ...
  • Avengers Infinity War Director Says Thanos Is A Lot Stronger Than The Hulk
    Avengers Infinity War Director, Joe Russo confirmed what all Marvel fanboys have always known but just needed to be retold for the sake...
  • [Music] IceCent Ft. 2Tboiz – Sterling (Prod. 2Tboiz)
    IceCent kicks off 2018 into the industry with this Afro tune from his Bold step album project titled “Sterling” featuring 2Tboiz, p...

Search This Blog

Powered by Blogger.
Copyright 2017 - CLPROMOTERS - All Rights Reserved