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NEXIT-CBN Loan Disbursement To Begin Soon – FG

Last updated on August 6th, 2023 at 06:47 am

Hajia Sadiya Umar Farouq has said that the NEXIT-CBN loan disbursement would begin very soon.

Recall that the Humanitarian Affairs, Disaster Management And Social Development, launched NEXIT portal last year as a way to bridge the gap created by the disengagement of batch A and B.

In 2016, 200,000 N-Power beneficiaries were onboarded and in 2017 another 300, 000 unemployed youths were temporarily employed as teachers, health assistant in hospitals, agric extension workers across the country.

They were paid N30,000 monthly stipend. But their disengagement generated lots of outcries.

Analysts said the action of the government could worsen the already complicated unemployment rate in Nigeria.

The minister, Sadiya Umar Farouq revealed that she was working on partnering with the Central Bank Bank of Nigeria (CBN) in what she called CBN empowerment option.

The apex bank has lots of financing and funding options to support creative minds and those with brilliant business plans.

One of such is the NYIF which was launched by the Ministry of Sports and Youth Development. It is also funded by the CBN.

Giving an update on NEXIT-CBN empowerment option, Sadiya revealed on the Nigerian Television Authority (NTA) that disbursement would begin very soon.

The Nexit loan disbursement date is like a “stone throw distance”, not too far from today, she promised.

There are speculations that each beneficiary could get access to N5M Loan, but the government was yet to speak on the specific amount.

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She urged those who are having validation email issue to be patient as her team are working on resolving their challenges to make their application a smooth one.

“All npower volunteers will be treated equally in the Nexit CBN loan affiliate programmes,” she said

You can check NEXIT support email in one of out publications


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