To ensure easy access to the credit facility, the CBN promised to waive the provision of guarantor requirement for applicants. “The N50bn loan: manufacturers did not get it. Also, the Chairman, SME Group at Lagos Chamber of Commerce, Mr Daniel Okezie, said none of the applicants to the N50bn CBN COVID-19 facility got the loan despite meeting all the criteria. Speaking to The PUNCH on Wednesday, he said only five per cent of LCCI members’ applicants received another CBN loan for SMEs and agricultural businesses. However, NISRAL has published a list of households and small businesses that benefited from the CBN N50bn COVID-19 Targeted Credit Facility on its website.

Source: Punch July 22, 2020 23:37 UTC