CBN opens registration portal for stimulus package for Nigerians

The Central Bank of Nigeria (CBN) has opened a portal for Micro, Small and Medium Enterprises and households affected by COVID-19 to access N25 million.

The portal and funds will be accessed using the NIRSAL Microfinance Bank.

This was announced by one of President Muhammadu Buhari’s aide, Bashir Ahmad, via his Twitter handle on Wednesday.

“The CBN, through @NirsalMFB introduces a stimulus package to support households and MSMEs affected by the COVID-19 pandemic. An individual can access up to N25 million,” Mr. Ahmad tweeted via his official handle.

The microfinance bank also made a similar announcement on Twitter.

It said, “Dear customers, the loan application portal is up and running. Please continue your application process.”

The scheme followed the federal government’s announcement that the ‘Survival Fund Payroll Support Portal’ would be reopened for states, aimed at supporting vulnerable businesses in the payroll obligations of over 500,000 employees.