COVID-19 Loan Applications Is Free, Says CBN
Oru Leonard
The CBN has urged the public to disregard the fake information going round that loan seekers are required to pay certain amount for small scale business owners who seek to apply for loans provided by the Federal Government of Nigeria to cushion the effects of COVID- 19.
The attention of Central Bank of Nigeria (CBN) has again been drawn to false reports in the social media circles that loan seekers and owners of small-scale businesses who apply for loans provided to cushion the effects of COVID-19 are required to pay a certain amount as application processing fee.
In a statement today, Mr Isaac Okorafor, Director, Corporate Communications of CBN noted that there are procedures for accessing the the N50 billion Targeted Credit Facility (TCF) stimulus package to support households and micro, small and medium enterprises (MSMEs) affected by the COVID-19 pandemic.
“For the avoidance of doubt, there are clearly spelt out procedures for accessing the N50 billion Targeted Credit Facility (TCF) stimulus package to support households and micro, small and medium enterprises (MSMEs) affected by the COVID-19 pandemic, which are disbursed through the NIRSAL Microfinance Bank (NMFB)” he explained.
He further advised members of the public, particularly households and owners of small-scale businesses to disregard any message requiring them to pay any amount to process their applications and go to any NIRSAL Microfinance Bank or CBN branch nearest to them for clarification.
“Prospective applicants are advised to approach NIRSAL Microfinance Bank or the CBN branch nearest to them for clarification on the procedure for accessing any of the CBN-related loans. Any observed irregularities should be reported to the Consumer Protection Department of the CBN via cpd@cbn.gov.ng or call 07002255226”, Mr Okoroafor concluded.
