The Federal Government’s Survival Fund is truly the first fairest funding and grants ever in the history of Nigeria.
After meeting all other requirements of the survival fund payroll, employers (CEO) and employees will have to answer some questions before their accounts are credited by the Central Bank.
We’ll share with you some of the questions the disbursement committee of the survival fund will ask you either as an employer or an employee before your account is credited.
Apart from this, one of the KYC measures, is to also ensure that the right people who really need the support are getting funded.
Objective of payroll support
The grant is one of the plans of the Economic Sustainability Plan, which is providing financial support for Micro, Small and Medium Enterprises (MSME) and other businesses that have been hit by the COVID-19 pandemic.
Some of the programmes under the survival fund include Payroll Support, Guaranteed Offtake and MSME Grant
The most popular among the programmes right now is the payroll, which is a grant to support vulnerable micro and small enterprises in meeting their payroll obligations in order to safeguard jobs within the MSME space from the shock of the Covid-19
Questions Survival Fund Committee Ask Loan Applicants
The employer who prepares the payroll will be asked the following questions by the Survival Fund Grant Disbursement Officer:
- What is your name?
- What is the name of your business?
- When last did you pay your workers?
- How much did you pay?
- Where is your company located?
- Are you owning your worker salary?
- What service do you render?
- What is your staff strength?
- How has covid-19 pandemic affected your business?
- Can you tell us your account number, account name and bank name?
Questions Asked By Survival Fund From Employer
As a worker, whose name has been included in the payroll, you will be asked the following questions by the committee of the survival fund:
- What is your name?
- Who is the director of your company?
- Where do you work?
- Where is your company located?. Tips: Know the address of the company, local government and state it is situated.
- What services do you render in your company?
- How much is your salary?
- When last did you receive your salary?
- What is your account number, account name and bank name?
- Was there any deduction in your salary due to covid-19 pandemic?
Master the above questions is you are expecting a call from survival fund