NIRSAL waives business plan on N50b COVID-19 facility

Before arriving at this decision, the bank had received 80,000 applications but ran into social media storm when it was discovered that it was charging between N5,000 and N10,000 from applicants to access the bank’s business plan.

“To stem further controversy, the management of NMFB has resolved that the business plan is no longer a mandatory requirement and the third party provision of a business plan is no longer compulsory,” he said.Kure also stated that 40,000 of the applcants that had so far applied for the facility were households.

“At the start of the process, business plans, which NIRSAL received from loan applicants were highly substandard and to ensure high standard and efficient processing, an optional, automated business plan was provided by a service provider at a highly discounted fee.

We

But it's still on their website?

Pls must small scale businesses are not registered so in this situation...no chance for them?

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coronavirus: Amidst outrage, NIRSAL says hidden fee for CBN business loans 'not compulsory'The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), a unit of the Central Bank, has said the controversial fees it demanded The issues
Source: PremiumTimesng - 🏆 3. / 78 Read more »

COVID-19: Abuja Chamber of Commerce examines access to business funding – Daily TrustThe policy centre of the Abuja Chamber of Commerce and Industry has commenced a survey to determine access to the COVID-19 support fund instituted by the Central Bank of Nigeria (CBN). The survey, targeting members of Chambers of Commerce nationwide, contains eight questions with a response time of less than five minutes. The Director of …
Source: Daily Trust - 🏆 13. / 51 Read more »