NPower exited beneficiaries to get CBN loan soon
The Federal Government has stated about 300,000 N-Power exited beneficiaries will enjoy loan facilities from the Central Bank of Nigeria (CBN) after vocational training.
Hajiya Sadiya Umar Farouk, Minister of Humanitarian Services, Disaster Management, and Social Development, stated this on Thursday during the presidential media team’s weekly ministerial briefing.
“Yes, we have an exit strategy, which we collaborate on with the Central Bank of Nigeria,” she said. Out of the 500,000, about 300,000 people expressed interest in being placed on an exit program where they could be trained in various skills of their choice and then given loans by the Central Bank of Nigeria to start their own businesses.
“We’ve come a long way.” We are currently training those who have expressed an interest. And I’m confident that before the end of this quarter, these individuals will be disbursing CBN loans.
“We do not give loans as a government agency,” says the ministry. As a result, we must form partnerships with institutions that are capable of doing so.
Unfortunately, some of these people did not save wisely, but for those who are serious about saving, the majority of them have done so.
“Approximately 109,000 N-Power recipients have gone on to start their own businesses. They are now employers of labor, and we can provide you with evidence of this.
“This is a fantastic program, and people have benefited and are receiving assistance.” We also have a plan for getting out. And we’re in the middle of it, and it’s a never-ending process.”