The Central Bank of Nigeria (CBN) says that households and SMEs applying for the N50 billion COVID-19 Targeted Credit Facility would not be required to provide guarantors.

A Central Bank of Nigeria twitter message (@cenbank) on June 8, 2020 says: ”CBN waives the requirement for the provision of guarantors by Households and SMEs applying for its N50bn COVID-19 Targeted Credit Facility.”

Following this development, CBN says: “All successful Household and SME applicants who have submitted their account details for the CBN N50bn COVID-19 Targeted Credit Facility should expect their accounts to be credited within 48 hours of such submission, otherwise they should call 09010026900.”

The CBN N50 billion Covid-19 Targeted Credit Facility aims to provide financial relief to households and small businesses negatively affected by the Covid-19 pandemic. Eligible small and medium enterprises can receive up to N25 million while qualified households can access a maximum of N3 million each.

8 Comments

  1. Bulus Pius

    is this really true because i have applied but no response, but i decide to drop this to mr Ted Iwere and mr Godwin the CBN Governor. My business Almost collapse due to the covid 19 period currently i am in need of soft loan to revived my business please i need your assistance

  2. Isiaka Adamu

    I need your help.I have applied but it has failed.I need your guidance the more.

  3. Abubakar Muhammad Nasoro

    Loan

  4. Modestus

    How can someone apply for this loan please?

  5. Nazifi usman Ibrahim

    I need to developed my business

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