CBN Intervention Programmes: AGSMEIS, COVID-19 TCF, NYIF, each per beneficiary | FAQ

There have been rising questions on wether a beneficiary of the COVID-19 Targeted Credit Facility Loan can benefit from the AGSMEIS Loan Scheme.

The Nirsal Microfinance Bank reacting to such question clearly stated that a beneficiary of COVID-19 TCF is outrightly not qualified for AGSMEIS Loan Scheme.

This means that even if you have spent money on being trained by an Entrepreneurship Development Institute (EDI) for the AGSMEIS Loan and you later got COVID-19 Targeted Credit Facility Loan, you will automatically become ineligible for the AGSMEIS Loan Scheme.

The same criterion applies to the Nigeria Youth Investment Fund. A beneficiary of COVID-19 Targeted Credit Facility Loan or AGSMEIS Loan is completely not qualified for the Nigeria Youth Investment Fund.

In fact, a Nigerian can benefit from only one of the CBN Intervention Loan Schemes at a time. However, if the beneficiary of one of the programmes has repaid about half of the previous loan, he/she may be considered in another Scheme.

It is the intention of the Federal Government to ensure that Loan Scheme touches the lives of many Nigerians as much as possible.

Did you apply for the COVID-19 Targeted Credit Facility Loan? When last did you check your approval status?

To Check your approval status, follow the proceedure stated below:

1. Open https://covid19.nmfb.com.ng

2. When it loads, select the type of Loan you applied for. Either SME or Household

3. Enter your BVN. Do not worry, the website is the official website of Nirsal Microfinance Bank for the COVID-19 TCF just as https://nyif.nmfb.com.ng is for Nigeria Youth Investment Fund and https://agsmeisapp.nmfb.com.ng for AGSMEIS Loan Scheme.

4. A response will be displayed when you enter your BVN.

(A) If it says your Loan has been approved, it will load your details asking you to accept your Loan offer. Proceed to complete the process and enter bank name and your account number. Avoid mistakes here.

(B) If it says 'Your loan has not been approved, check back later, kindly check back later as they said.

(C) If it however displays "BVN does not exist", do not panic. Just keep checking back from time to time as approval is on going and hope is high.

Patience is the only price one has to pay to get COVID-19 Targetted Credit Facility Loan. Do not pay anyone a dime to facilitate the approval of the Loan to avoid being scammed.

Post a Comment