CBN’s N50bn COVID-19 fund disbursement begins Thursday


The Central Bank of Nigeria will on Thursday commence the disbursement of the first tranche of N50bn targeted credit facility.

The fund, which is being managed by the NIRSAL Microfinance Bank, has received over 80,000 applications.

This was confirmed by the Managing Director, NIRSAL Microfinance Bank, Abubakar Kure.

Kure, who did not provide the amount to be disbursed in the first tranche, said that those whose applications were successful would start receiving their fund on Thursday.

He said, “But we are hopeful that towards Thursday or Friday, the disbursement of the fund would commence.”

The CBN had introduced the N50bn Targeted Credit Facility as a stimulus package to support households and Micro, Small and Medium Enterprises affected by the COVID-19 pandemic.

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