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CBN COVID-19 Loan Repayment Structure (Please Read Carefully)

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CBN to Begins Disbursement of COVID-19 Fund Today - Have You Applied? See How to Apply

CBN Covid-19 Loan Repayment structure: Congratulations to all those who have received the CBN Covid-19 Loan. I mean who will not say the government did well this time. 

The loan has put smiles in the faces of individuals and business owners, at least this will help meet up with demands and create an opportunity for growth.


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 - CBN

In case, you have not applied, the application is still ongoing, and the only official website to apply is www.nmfb.com.ng/covid-19-support/.

Here in this article, is for the benefit of those who have applied and received the loan and hence want to know about the CBN Covid-19 Loan Repayment structure. As the name implies it is a loan and not a grant. The CBN has made it easy for everyone to repay the loan by making sure the loan tenure is enough for anyone to meet up.

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CBN also gave a six months moratorium, which means the term is not with immediate effect. 


Meanwhile, after the expiration of the moratorium, you will begin to repay back your loan bit by bit. This means if you received 425,000, what you will pay back will be 463,250. This will be split into 12 months and that 463,250 / 12 in 1 year which amount to 38,604.17 and if this is split in 5 years you will pay back 463,250 / 60 which shall amount to 7,720.83 per months.

The only official website to apply is www.nmfb.com.ng/covid-19-support/

WARNING

You can not run away from this debt, this money will be debited from your account monthly and if you think you want to play smart, then be ready to face the law.

If you still have a question regarding the CBN Covid-19 Loan Repayment structure, kindly leave a comment on our blog and one of our team will give you a reply in a jiffy.

Note comments on Opera may not be replied to.

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Bernard Bassey is a graduate of Software Engineering from AfriHUB University, Abuja. He is an expert in field journalism, his interest in socio-politics activities is keen.

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