The management of Fidelity Bank through its SME Radio Forum has announced the launching of four new funding schemes to support Small Scale Enterprise (SME) and Medium and Small Scale Enterprise (MSME) in Nigeria. Making the announcement, the managing director of the bank, Nneka Onyeali-Ikpe, said the loan scheme was part of Fidelity’s mission to help small businesses … Read more
Hundreds of Nigerians who applied for funding for their businesses during and post COVID-19 are worried that their application was rejected. Some of those whose applications were rejected concluded that the funds were only given to those who are “connected” to political heavyweights. But the fact is we’ve received lots of testimonies from those who … Read more
Every loan initiated by the Federal Government has a purpose and mostly the funds are managed by the Bank of Industry (BoI). One of them is the National Automotive loan. Is there a brand of vehicle that isn’t on Nigeria’s roads? Nigeria is a huge market for all kinds of vehicles. Many Nigerian banks that have … Read more
A few months ago, we informed you that you can own an apartment in Nigeria with as low as N2, 000, 000 under the National Social Housing Programme. Today, the Federal Mortgage Bank of Nigeria reveals that it has disbursed close to N300 billion under the housing scheme. We extensively analyzed how you can apply … Read more
Nigeria’s government has finally shown its interest to massively invest in housing. It’s doing this by building 300,000 houses for interested Nigerians across the country under its programme called National Social Housing Programme (NSHP) The new announcement by the NSHP means you can own a house at an interest-free loan beginning from N2, 000, 000. … Read more
Nigeria’s apex bank has barred Payment Service Banks (PSBs) in Nigeria from granting loans. It also barred the PSBs from accepting foreign currency in its latest guidelines seen by InfomediaNG. This means that the PBS can no longer grant any form of loans, advances, and guarantees, directly or indirectly, to their customers. For all categories of loans, … Read more
In October 2019 the Managing Director of Nigeria’s Bank of Industry (BoI), stated that hundreds of Nigerians failed to pay back the loan they get from the bank. “Some of them treat the loans given to them like it’s their own share of the share of the national cake.” If you know the purpose of … Read more
There have been worries over how beneficiaries of the COVID-19 NIRSAL Loan can repay. Some of them say all efforts to repay the loan proved abortive. But to simplify the process, NMFB has activated a repayment schedule link on its portal. To check your loan statement and schedule for repayment: 1) use this link: nmfb.com.ng/repayment-schedule … Read more
Nirsal Microfinance Bank (NMFB) has resumed disbursement of the Covid-19 Targeted Credit Facility (TCF) for 2022, the bank said in a Facebook post, urging applicants to check the status of their application. So, if you applied for the SME loan on the NMFB portal, all you need is to head back to the portal to … Read more
The Bank of Industry (BOI) is a Federal Government-funded industrial financing institution. The bank has a wide range of loans to support industries that contribute to the Gross Domestic Product (GDP), one of such fund is the Cassava Bread Development Fund. More details on what to do to get loans from the Bank of Industry (BOI) … Read more