The Federal government of Nigeria has disclosed that the Intervention fund provided by CBN will be disbursed on Thursday.
The fund, which is being managed by the NIRSAL Microfinance Bank, has received over 80,000 applications as at the time of writing this application.
Mr Abubakar Kure who told Punch News about the development disclose that the fund sharing will commence on Thursday or Friday.
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The N50bn intervention is being financed from the Micro, Small and Medium Enterprises Development Fund.
In terms of limit, the loan amount would be determined based on the activity, cash flow and industry size of a beneficiary, subject to a maximum of N25m for SMEs.
Households can access a maximum of N3m while working capital would be a maximum of 25 per cent of the average of the previous three years’ annual turnover.
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