Each of the 10,000 wheat farmers in Bauchi will receive at least NGN370,000, totalling NGN5.7 billion from the Central Bank of Nigeria (CBN) for the dry season farming. In addition to the loan, six bags of urea, four bags of NPK fertilizer, pumping and spraying machines, CBN Comptroller, Bauchi Branch, Saladu Idris, said on Thursday. … Read more
The managing director of NIRSAL Microfinance Bank (NMFB), Alh. Abubakar Kure, has vowed that the Bank Verification Number (BVN) of COVID-19 loan defaulters will be blocked. In an interview, the NMFB boss disclosed that Global Standing Instruction (GSI) would be implemented on bank accounts of loanees after the end of the moratorium and deduction would … Read more
Companies that source at least 50 per cent of their raw materials locally, have the potential to contribute to Nigeria’s foreign exchange, and have export value potential among other requirements can apply for the 100 for 100 Policy on Production and Productivity (PPP). It is an initiative of the Central Bank of Nigeria (CBN) to … Read more
Apart from business ideas, funds are very important at the stage of implementation or for expansion, that’s when credit facility for small business owners is very important. As such, Stanbic IBTC SME loan is one of the credit facilities entrepreneurs in Nigeria can obtain to achieve their business goals. In one of our guides, we … Read more
One of the impediments to business financing in Nigeria is either bad policies from the government or stringent terms by the banking institutions or both. Nigerian youths are mostly affected by the challenges because small business owners in the South, West, North, and East are not able to achieve business goals due to high interest … Read more
It’s a hard time, most especially for the average people around the World as inflation bites harder. The trying moment has forced millions of people to seek soft loans to augment the situation. Unfortunately, this is also the time you could lose the little you have while trying to get a credit facility. At a … Read more
Nirsal Micro Finance Bank has launched a non-interest banking window for Targeted Credit Facility and the Agric Small Medium Enterprise Scheme (AGSMEIS). With the latest announcement, NMFB joins the list of four other banks in Nigeria that offers non-interest banking products, Jaiz bank is the first financial institution in Nigeria to start the Islamic principle … Read more
With $20 million in financing from the Islamic Corporation for the Development of the Private Sector (ICD) in 2018 and another $25million to support SMEs in September 2021, Jaiz Bank’s interest-free business loan products might be the choice of startups irrespective of religious sentiments in a few years. Founded by Alhaji Umar Mutallab in 2003, Jaiz … Read more
The pioneer of non-interest credit facility in Nigeria Jaiz Bank says it has got $25million from Islamic Corporation for the Development of the Private Sector (ICD). ICD is the private sector arm of the Islamic Development Bank (IsDB), a Saudi Arabia-based multilateral development finance institution that is focused on Islamic finance. If converted to naira using the CBN … Read more
One of the ways for a business owner to quickly achieve their entrepreneurial goals is to get access to a soft or an interest-free loan, but most of the financial institutions around the world make a profit from interest on a credit facility. However, some financial institutions in Nigeria are gradually embracing Islamic tenets of … Read more
To many Nigerians, the Government Enterprise & Empowerment Programme (GEEP) was active before the 2019 general elections, not knowing that a lot of credit facilities are still going on across the country. You just have to connect with the right information. Another batch of the programme, according to the information we received from the National … Read more
It is not a good time for some applicants of the CBN-backed covid-19 as they continue to receive unauthorised debit alerts from Nirsal Microfinance Bank (NMFB). Please I need help I applied for Nirsal covid-19 loan they credited me and debited me at once leaving 1,946 on the account I don’t understand please reply me … Read more
We’ve said severally how difficult it is for small business owners to access financing, but getting the right information to know the right credit facility for SMEs is also very important. Do you know that even when the loans are available, the eligibility requirements and the interest rates by the commercial banks are not always … Read more
Nirsal Micro Finance Bank (NMFB), a CBN-dedicated bank for disbursement of government loans, has assured small business owners and individuals who accepted the loan offer of the government would receive a credit alert. The bank made the assurance on its Facebook page while reacting to the delay in the disbursement of loan applications and assured … Read more
The recent N250,000,000,000 Gas Intervention Fund by the Central Bank of Nigeria (CBN) is one of the several financing programmes for a quick economic recovery. The essence of the gas fund is to support the propagation of gas while creating massive jobs for millions of unemployed Nigerians through access to financing. Nigeria’s government is implementing … Read more