NIRSAL Covid 19 Loan CBN Application

 Covid 19   , ,  how to apply.  

The Good news now is that the  CBN has removed the collateral for the  loan.  

Steps on how to apply for COVID-19 loan    

The Central Bank of Nigeria (CBN) says the financial institution doesn’t cost any payment on COVID-19 loan purposes as claimed in false reports circulated on social media.

Prospective candidates are suggested to approach NIRSAL Micro Finance Bank or the CBN department nearest to them for clarification on the process for accessing any of the financial institution’s associated loans.

“Any observed irregularities should be reported to the Consumer Protection department of the CBN via [email protected] or call 07002255226” he said.

Access up to N25 Million

Targeted Credit Facility for  Covid 19  Loan  CBN

The Central Bank of Nigeria (CBN)  introduces a stimulus package deal to assist households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic

Concept of Targeted Credit Facility (TCF) 

The Coronavirus Disease (COVID-19) pandemic has led to unprecedented disruptions to international provide chains, sharp drop in international crude oil costs, turmoil in international inventory and monetary markets, large cancellation of sporting and leisure occasion, lockdown of huge swaths actions of individuals in many nations, and intercontinental journey bans/restrictions throughout important air routes the world over.

These outcomes have had extreme penalties on households’ livelihoods and enterprise actions, ensuing from drop in international demand, declined client confidence and slowdown in manufacturing.

In this respect, the Central Bank of Nigeria (CBN) launched the N50 billion Targeted Credit Facility (TCF) as a stimulus package deal to assist households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic. You can click here to get the total particulars on how to apply for the covid-19-support loan from CBN

SEE THIS POST : University of Nigeria Teaching Hospital (UNTH) 2020 Graduate Internship Recruitment (10 Positions)

Who Is Eligible?


Households with verifiable proof of livelihood adversely impacted by COVID-19

Download Application Guideline



Existing enterprises with verifiable proof of enterprise actions adversely affected on account of the COVID-19 pandemic

Download Application Guideline

Corporate Enterprises

Enterprises with bankable plans to make the most of alternatives arising from the COVID-19 pandemic


Submit An Application

The course of is simple.You can start in your telephone, your pill or your laptop computer.

Submit purposes immediately to NIRSAL Microfinance Bank (NMFB) with clear proof of the chance or adversarial influence on account of COVID-19 pandemic.



We evaluate your application and ahead the application to the CBN for remaining approval.



CBN evaluations purposes and offers remaining approval for disbursement to NMFB

Want to communicate with somebody?

09010026900 – 7
Monday to Friday (8am – 5pm)


Interest fee below the intervention is 5% p.a. (all inclusive) up to 28th February 2021 and thereafter, the curiosity on the ability will revert to 9% p.a. (all inclusive) as from 1st March 2021.

Working capital will probably be for a most interval of 1 year, with no possibility for rollover. Term loans have a most tenor of no more than Three years with, no less than, one-year moratorium.

Households: Can entry a most of N3 million

Loan quantity to SMEs shall be decided primarily based on the exercise, cashflow and business/section measurement of beneficiary, topic to a most of N25 million.

Working capital shall be a most of 25% of the common of the earlier Three years’ annual turnover. (the place the enterprise isn’t up to Three years in operation, 25% of the earlier year’s turnover will suffice).



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  1. Sir l have nurse this idea of owing a piggry farm for a while now but have not being able to raise the money l don’t know if l will be able to fit into this program . Hope to hear from u thanks.

  2. I hope that,cbn should be regards the masses people which suits to collect the collaboration from,and be more exermine on giving to this opportunity.


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