Latest Update 2020
CBN COVID 19 Loan: Questions and Answers Forum (take note of the following)
CBN COVID 19 Loan, Questions and Answers Forum: I believe at this point most of you must have applied for the CBN COVID 19 loan application. This forum topic is strictly created to answer most of the questions that have been waiving around online.
For those who have not yet applied and are still interested, you can visit the official website at http://nmfb.com.ng/support.
We created this forum topic to answer questions only regarding the CBN Loan Application. Please, do not post what is not related to the forum topic, questions as such will not be entertained and hence we would render them null and void.
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If at all you want to ask a question that is not related to this forum topic you can post on this article and our admin will reply you in no time. CLICK HERE TO ASK QUESTION.
We would add a few questions and give room for an open question from you. It is important to make your question brief and precise, any question that seems vague may not be addressed.
CBN COVID 19 Loan Questions and Answers
How much Can I Receive for CBN COVID 19 Loan?
Household can get up to N3,000,000 (Three Million Naira) and SMEs can get up to N25,000,000 (Twenty-Five Million Naira)
What if I don't have BVN, can I still apply?
No. You can not apply if you don’t have a BVN. BVN is used as a means of identification, anyone, without a valid BVN is not allowed to apply.
I Don't Have a CAC or RN No. Can I apply?
If you don’t have CAC or RN number you cannot apply for SME. However, you can apply for the household loan.
What is the interest rate for COVD-19 Loan?
The interest rate under the intervention is 5% p.a. (all-inclusive) up to 28th February 2021 and thereafter, the interest on the facility will revert to 9% p.a. (all-inclusive) as from 1st March 2021.
How long is the CBN COVID 19 loan for?
Working capital will be for a maximum period of one year, with no option for rollover. Term loans have a maximum tenor of not more than 3 years with, at least, one-year moratorium.
The questions are not limited to the ones above, kindly leave your questions below and you will receive a reply. Kindly note if you leave a comment on opera we may not be able to reply you.
All comment should be made on our official blog and under this forum topic. Also, don’t forget to subscribe to our daily newsletter to be the first to receive update.
Joseph Opaluwa Emmanuel
Wednesday, 24 June 2020, 10:39 at 10:39 am
I applied through this site https://nmfb.com.ng/covid-19-support. And I have not received anything from them since June 17
obanla Taiwo Damilola
Wednesday, 24 June 2020, 7:42 at 7:42 am
Have sent my account number as requested and have not received money in my account since last week, please what am I going to do
Obanla Taiwo Damilola
Wednesday, 24 June 2020, 7:40 at 7:40 am
Have sent my account number and not yet been credited since last week, what am I going to do
Olaniran Kazeem Olatunji
Saturday, 27 June 2020, 6:31 at 6:31 pm
Good evening sir/ma,
My names are Olaniran Kazeem Olatunji,my loan approval has since 9th June 2020 been sent through sms which i accepted the same day but yet to receive any alert.
I got another message asking for my other account details to enable me receive my loan on the 13th and 17th twice,the link sent to me to click in order to input my account details is the same as the link for the acceptance of the offer.
Please tell me what to do to receive my loan.
Olaniran is my surname
Kazeem is my first name
Olatunji is my middle name.
Thank you.
sulaiman ibrahim
Tuesday, 23 June 2020, 7:25 at 7:25 pm
Please give us dis money we apply
Buhari Alka
Monday, 22 June 2020, 11:31 at 11:31 pm
I have applied covid19 since last week but lam no credited
Ahmadu mbombo umar
Monday, 22 June 2020, 10:16 at 10:16 pm
I sent my covid 19 application I haven’t got any reply pls
Bernard Bassey
Monday, 22 June 2020, 10:24 at 10:24 pm
Kindly tell us when you sent the application on through which website?
Chia Emmanuel
Monday, 22 June 2020, 6:27 at 6:27 pm
I need that loan