Coronavirus: CBN lists conditions to access N50bn intervention fund

Central Bank of Nigeria is set to launch a N50bn Credit Facility to cater for the needs of households and small businesses that have and will be adversely affected by Coronavirus (COVID-19).

CBN said those eligible must prove that they, their livelihood and business operations have been adversely affected by the spread of the virus.

Businesses eligible for the scheme are agricultural value chain activities, hospitality, health (pharmaceuticals and medical supplies), airline service providers, manufacturing and value addition, and trading.

The apex bank says facility will be administered by its officers and the NISRAL Microfinance Bank revealing that  maximum amount to be received depending on proof of cash flow of investment size is N25m while households can access N3m with an interest rate of 5 per cent per annum for a maximum period of one year.

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