How Many Legitimate Loan Apps Are in Nigeria?

There are 94 safe and trustworthy loan apps in Nigeria, according to the latest approval notice issued by the  Federal Competition and Consumer Protection Commission (FCCPC). Out of the 94 companies that got the green light from the consumer protection agency, 49 of them got full approval while 45 of the digital lenders got conditional … Read more

Beneficiaries of 100 for 100 Policy By CBN

The Central Bank of Nigeria (CBN) has released the full list of the beneficiaries of 100 for 100 policy spreading across three major sectors Wednesday, February 2, 2022. The list which is published on the official website of CBN shows that a total of NGN23.2 billion were disturbed to 28 companies in three major sectors: Manufacturing sector: 14 … Read more

BVN of COVID-19 Loan Defaulters Will Be Blocked – NMFB Boss Vows To Invoke GSI

Loan application process infomedia nigeeria

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

100 for 100 PPP CBN Loan Application Process

100For100 PPP CBN Loan Application Portal

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

Statistics Show Bank Loan Terms, FG Policies Affect Youths Access To Credit Facility in Nigeria

Loan application process infomedia nigeeria

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

5 Key Things About NMFB Non-Interest Banking Window For TCF & AGSMEIS Applicants Need To Know

Nirsal Micro Finance Bank has launched 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 of … Read more

6 Major Requirements for Jaiz Bank Interest-Free Business Loans

Loan application process infomedia nigeeria

With $20 million financing from 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 Bank is … Read more

Jaiz Bank Gets Over N10Billion From IsDB To Support SMEs in Nigeria

Loan application process infomedia nigeeria

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