CBN waives guarantor requirement for N50bn COVID-19 loan applicants – TheCable

CBN waives guarantor requirement for N50bn COVID-19 loan applicants – TheCable

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The Central Bank of Nigeria (CBN) has waived the requirement of providing guarantors whereas making boom of for its N50 billion COVID-19 focused credit score facility (TCF).
The apex bank launched the N50 billion TCF to abet households and MSMEs whose financial actions had been greatly disrupted by the COVID-19 pandemic.

CBN waives the requirement for the provision of guarantors by Households and SMEs making boom of for its N50bn COVID-19 Focused Credit score Facility
— Central Bank of Nigeria (@cenbank) June 8, 2020

“All winning household and SME candidates who possess submitted their story details for the CBN N50bn COVID-19 focused credit score facility would possibly perchance perhaps presumably also peaceable query their accounts to be credited within 48 hours of such submission,” a press liberate by Isaac Okorafor (pictured), CBN director of corporate communications, read.
It added that every person winning candidates below the CBN COVID-19 TCF whose accounts possess now not been credited would possibly perchance perhaps presumably also peaceable coast to NIRSAL Microfinance Bank (MFB) on-line portal and enter their story details in any bank of their decision.
It renowned that these palliatives being disbursed by CBN to households and SMEs are loans and would possibly perchance perhaps peaceable now not be taken as grants.
Okorafor urged eligible households and small companies who meet the guidelines to receive excellent thing about the palliative to revive their companies and make a contribution to steering Nigeria far from recession.
The loan intervention is designated to conclude by December 31, 2024.

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