Deprecated: define(): Declaration of case-insensitive constants is deprecated in /home/newsrang/public_html/wp-content/themes/Advanced Newspaper Package/Advanced-Newspaper/includes/theme-js.php on line 3

Deprecated: define(): Declaration of case-insensitive constants is deprecated in /home/newsrang/public_html/wp-content/themes/Advanced Newspaper Package/Advanced-Newspaper/includes/theme-js.php on line 5

Notice: Function wp_enqueue_script was called incorrectly. Scripts and styles should not be registered or enqueued until the wp_enqueue_scripts, admin_enqueue_scripts, or login_enqueue_scripts hooks. This notice was triggered by the jquery handle. Please see Debugging in WordPress for more information. (This message was added in version 3.3.0.) in /home/newsrang/public_html/wp-includes/functions.php on line 6085

Notice: Function wp_enqueue_script was called incorrectly. Scripts and styles should not be registered or enqueued until the wp_enqueue_scripts, admin_enqueue_scripts, or login_enqueue_scripts hooks. This notice was triggered by the contentslider handle. Please see Debugging in WordPress for more information. (This message was added in version 3.3.0.) in /home/newsrang/public_html/wp-includes/functions.php on line 6085

Notice: Function wp_enqueue_script was called incorrectly. Scripts and styles should not be registered or enqueued until the wp_enqueue_scripts, admin_enqueue_scripts, or login_enqueue_scripts hooks. This notice was triggered by the jqueryslidemenu handle. Please see Debugging in WordPress for more information. (This message was added in version 3.3.0.) in /home/newsrang/public_html/wp-includes/functions.php on line 6085

Notice: Function wp_enqueue_script was called incorrectly. Scripts and styles should not be registered or enqueued until the wp_enqueue_scripts, admin_enqueue_scripts, or login_enqueue_scripts hooks. This notice was triggered by the jCarouselLite handle. Please see Debugging in WordPress for more information. (This message was added in version 3.3.0.) in /home/newsrang/public_html/wp-includes/functions.php on line 6085

Notice: Function wp_enqueue_script was called incorrectly. Scripts and styles should not be registered or enqueued until the wp_enqueue_scripts, admin_enqueue_scripts, or login_enqueue_scripts hooks. This notice was triggered by the tabber handle. Please see Debugging in WordPress for more information. (This message was added in version 3.3.0.) in /home/newsrang/public_html/wp-includes/functions.php on line 6085

Notice: Function wp_enqueue_script was called incorrectly. Scripts and styles should not be registered or enqueued until the wp_enqueue_scripts, admin_enqueue_scripts, or login_enqueue_scripts hooks. This notice was triggered by the flowplayer handle. Please see Debugging in WordPress for more information. (This message was added in version 3.3.0.) in /home/newsrang/public_html/wp-includes/functions.php on line 6085

Notice: Function wp_enqueue_script was called incorrectly. Scripts and styles should not be registered or enqueued until the wp_enqueue_scripts, admin_enqueue_scripts, or login_enqueue_scripts hooks. This notice was triggered by the cufon handle. Please see Debugging in WordPress for more information. (This message was added in version 3.3.0.) in /home/newsrang/public_html/wp-includes/functions.php on line 6085

Notice: Function wp_enqueue_script was called incorrectly. Scripts and styles should not be registered or enqueued until the wp_enqueue_scripts, admin_enqueue_scripts, or login_enqueue_scripts hooks. This notice was triggered by the aller handle. Please see Debugging in WordPress for more information. (This message was added in version 3.3.0.) in /home/newsrang/public_html/wp-includes/functions.php on line 6085
Coronavirus: Nigeria Central Bank Unveils Guidelines For Disbursement Of N50bn | NEWS RANGERS

Coronavirus: Nigeria Central Bank Unveils Guidelines For Disbursement Of N50bn

LAGOS MARCH 27TH (NEWSRANGERS)-Guideline for the disbursement of the N50 billion special intervention fund by the Central Bank of Nigeria (CBN) has been released.

The fund is meant to serve as a stimulus package for households and small businesses to cushion the effect of the COVID-19 pandemic.

Governor of the CBN, Mr Godwin Emefiele, had announced the introduction of the N50 billion Targeted Credit Facility (TCF) and according to the guideline, NISRAL Microfinance Bank (NMFB) will serve as the disbursing financial institution with SMEs, households and enterprises that have verifiable evidence of livelihood and evidence of business activities adversely impacted by COVID-19 well as those with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic.

The guideline stated that the sectors that would be eligible for the credit facility include agriculture value chain, hospitality, health, airline service providers, manufacturing/value addition, trading as well as any other income generating activities as may be prescribed by the CBN.

The scheme which will be financed from the Micro, Small and Medium Enterprises Development Fund (MSMEDF), will see SMEs getting a maximum facility of up to N25 million while households can access up to N3 million based on the activity, cashflow and industry/segment size of beneficiary.

“Working capital shall be a maximum of 25 percent of the average of the previous three years’ annual turnover; where the enterprise is not up to three years in operation, 25 per cent of the previous year’s turnover will suffice.

“Interest rate under the intervention shall be five percent per annum all inclusive up to 28th February 2021 and thereafter, the interest on the facility shall revert to nine per cent as from 1st March 2021,” the apex bank said.

The guideline stated that collateral for the facility will include one or more of the following: “Moveable asset(s) duly registered on the National Collateral Registry (NCR), Simple deposit of title documents, in perfectible state, Deed of Debenture (for stocks), in perfectible state, Irrevocable domiciliation of proceeds, Two acceptable Guarantor, Personal Guarantee of the promoter of the business, Life Insurance of the Key-Man, with NMFB noted as the First Loss Payee, Comprehensive Insurance over the asset.”

facebookShare on Facebook
TwitterPost on X
FollowFollow us
PinterestSave

Related Posts

Short URL: https://newsrangers.com/?p=46431


Deprecated: Function get_the_author_email is deprecated since version 2.8.0! Use get_the_author_meta('email') instead. in /home/newsrang/public_html/wp-includes/functions.php on line 6085
Posted by on Mar 27 2020. Filed under National. You can follow any responses to this entry through the
Deprecated: Function comments_rss_link is deprecated since version 2.5.0! Use post_comments_feed_link() instead. in /home/newsrang/public_html/wp-includes/functions.php on line 6085
RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply


Notice: Undefined variable: user_ID in /home/newsrang/public_html/wp-content/themes/Advanced Newspaper Package/Advanced-Newspaper/comments.php on line 59

Photo Gallery

Designed by News Rangers ICT Department