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CBN Covid-19 Loan Repayment Important Information to Take Note Of (Don’t Say You don’t Know)
CBN Covid-19 Loan Repayment: Applicants to the N50 billion credit facility, who have successfully completed the application processes and submitted their account details, should expect credit alerts 48 hours afterwards – If you have not seen your credit alert see what to do on this link Have you Applied for CBN Covid-19 Loan and not yet Approved (Here is what to do)
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If you have not applied yet, the application is still ongoing kindly click the link to apply CBN COVID 19 Loan for Household (CBN Loan Application portal 2020)
Registration
Such applicants were also informed to submit “their account details in any bank of their choice.”
“The credit facility is aimed at providing financial relief to households and small businesses as they cope with the economic fallouts of the pandemic.
The loan disbursements would be determined based on the activity, cash flow, and industry size of the beneficiaries.
Each eligible SME will receive a maximum of N25 million while qualified households can access a maximum of N3 million each”
CBN Covid-19 Loan Repayment
If your account has been credited, congratulations but you have not gotten free money.
You are going to pay back with no one policing you. You have sign agreement with NMF to take any money in your account should you do not payback.
It means the only condition for not paying back is if no money comes into your other accounts link with your BVN.
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- CBN COVID 19 Loan (IF you have Applied or NOT Read this carefully)
- Have you Applied for CBN Covid-19 Loan and not yet Approved (Here is what to do)
- Fraud Alert! If You applied or Already Applied for the CBN Covid-19 Loan (Please Read Carefully)
So, use the money well, it is a loan, not a grant. NIRSAL through CBN will take everything that passes through your account including your salary if you do not payback.
Secondly, what you see as credit alert is not what you borrowed, 4% interest and administration fee have been taking upfront if, for example, you see N425,100 what you are paying back is N450,000.
The moratoriums are the grace period before deduction will begin and the repayment period is the no of instalments. If it is 12 months, it means N450,000 not N425,100 divided by 12 and that is what you will start paying monthly from September.
The only official website to use is www.nmfb.com.ng/covid-19-support
Walk to any NIRSAL microfinance bank with your BVN to get your account no, you can upgrade the account with your password, ID card, Signature and free to use the account like any other bank account. CBN Covid-19 Loan Repayment.
Warnings on CBN Covid-19 Loan Repayment
You cannot escape the repayment, not even death. Even when you change your name, you can NEVER change your fingerprints.
They would locate your guarantors to continue servicing the loans from where you left it.
They can only give your guarantors some time to start paying should in case there is an eventuality of death.
Please use the loan to grow your business. God will multiply it and you will happily payback.
Don’t forget to leave a comment on my blog via SEARCHNGR
Khalid
Tuesday, 30 June 2020, 10:02 at 10:02 pm
The loam is very good. It improve gradually of there business in the country.
Thank
Khalid
Tuesday, 30 June 2020, 9:55 at 9:55 pm
I happy with Nmfb for granting my loan, now from the day I receive my loan my business is improve gradually, now I’m waiting for the time to start pay back my loan in order to allow other to benefit.
Thank.
Khalid
Tuesday, 30 June 2020, 9:42 at 9:42 pm
Really I happy with Nmfb for granting my loan, now from the day I receive my loan my business is improve gradually, now I’m waiting for the time to start pay back my loan in order to allowe other to benefit.
Thank.
imrana garba
Saturday, 20 June 2020, 11:31 at 11:31 pm
mine is about the interest, we were approved but we DONT want the interest
Garba kabiru
Thursday, 18 June 2020, 10:16 at 10:16 am
After my successful applied, they ask me they should soon contact me. Today is 7days for my successful applied. Thanks.
Prince George
Wednesday, 17 June 2020, 11:25 at 11:25 pm
What about a million naira, what is the initial deduction
David Bawa Mathew
Thursday, 18 June 2020, 1:28 at 1:28 pm
Am applying for the loan, to invest it my farm
Ibrahim Muhammad Guri
Wednesday, 17 June 2020, 10:34 at 10:34 pm
I Didn’t see my alert while my information already approved and send successful at least a week (7Days) today.
I mid contact to complain
Sheikh ilyazz gadar karfe
Wednesday, 17 June 2020, 5:33 at 5:33 pm
Thanks you so much our dear country Allah yakara rufa Mana asiri and may Allah bless u.
Jafar
Wednesday, 17 June 2020, 4:38 at 4:38 pm
I dont know about the loan in time until when people start receiving alert. I tried to applied but its not going what should i do to submit or you have finish approving it now.
Grace Benson
Wednesday, 17 June 2020, 2:27 at 2:27 pm
I downloaded the app, I tried to register with nirsal mfb through their app. It keeps replaying error. Please must I go to their bank to register, b4 I receive my loan?
Prince George
Wednesday, 17 June 2020, 1:25 at 1:25 pm
Please is there any thing called Simplified Credit. I was redirected there and asked to pay #5000 for Business planning etc
Bernard Bassey
Wednesday, 17 June 2020, 1:40 at 1:40 pm
There is nothing as such, kindly disregard any enticing moratorium.
Hassan Muhammad Sani
Wednesday, 17 June 2020, 9:31 at 9:31 am
The loan is good. If one can judiciously utilize such he can eventually come out from the shackle of misery. Mine is still pending and hoping will be approved.
Ahmad sabiu
Tuesday, 16 June 2020, 2:33 at 2:33 pm
I am Ahmad sabiu I applied the covid19 credit loan in April 29 but we are approve my loan but now not received my money I my account
yahaya Muhammad
Tuesday, 16 June 2020, 1:38 at 1:38 pm
Really I happy with Nmfb for granting my loan,now from the day I received My loan my business is improving gradually, now I’m waiting for the time to start payback my loan in order to allowed others to benefit.
Abdurrahman Sani Shuaibu
Wednesday, 17 June 2020, 11:30 at 11:30 am
Thanks for this issue