CBN Begin Disbursement Of N50bn COVID-19 Funds To Households
The Central Bank Of Nigeria CBN, has approved the sharing and disbursement of the N50bn targeted at households badly affected by COVID-19 pandemic.
According to NIRSAL Microfinance Bank, who the CBN handed the management of this funds has said it has received over 80,000 applications and would start the cash disbursement from Thursday 23rd April 2020. Punch Reports.
Recall that the CBN had introduced the N50bn Targeted Credit Facility as a stipends to support households and SMEs affected by the COVID-19 pandemic.
According to CBN guidelines, those that can benefit from this funds are households with verifiable evidence of livelihood adversely impacted by COVID-19, Existing enterprises with verifiable evidence of business activities adversely affected by the COVID-19 pandemic and Enterprises with bankable plans.