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COVID-19 Loan Applications Free, Says CBN

COVID-19 loan applications free, says CBN | PNUCOVID-19 Loan Applications Free, Says CBN

The Central Bank of Nigeria (CBN) on Monday said application for COVID-19 loan applications are free.

In a statement signed by its Director of corporate Communications, Isaac Okorafor, CBN said it had received reports in the social media circles that loan seekers and owners of small-scale businesses who apply for loans provided to cushion the effects of COVID-19 are required to pay a certain amount as application processing fee.


“For the avoidance of doubt, there are clearly spelt out procedures for accessing the N50 billion Targeted Credit Facility (TCF) stimulus package to support households and micro, small and medium enterprises (MSMEs) affected by the COVID-19 pandemic, which are disbursed through the NIRSAL Microfinance Bank (NMFB).

“Members of the public, particularly households and owners of small-scale businesses, are therefore advised to disregard any message requiring them to pay any amount to process their applications,” the statement said.

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It urged prospective applicants to approach NIRSAL Microfinance Bank or the CBN branch nearest to them for clarification on the procedure for accessing any of the CBN-related loans.

It also advised members of the public to report any observed irregularities to its Consumer Protection Department.

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  1. Pls how i apply for this CBN loan , can new business ideas also apply?

  2. Old I need can loan how and going to apply or to download the app

  3. People no get Job again because of this Corona virus I need the loan to start up again after this lockdown. Am in Delta State, this na my account no 0104121200 access bank.

  4. Please I need this loan to start a business cos since after my marriage on 7th March things are not good for me and my family cos I’m heavy pls help me with the loan n how to apply for the loan

    • Please my business is not going well seens this corona virus please I need this loan here is my account number 0765614252 access bank

  5. Yayadogo gagarau

    I initially planned to start business recently,but the money I kept for this purpose was used up as a result of this global pandemic,I need loan for me to start this business pls.

  6. Please I need this loan for my business,How can I apply or what are the procedure does let me know.

  7. ekwunife christian

    I need a loan to expand my business after this pandemic


  9. Stephen udohsarde

    Pls i need the loan to start up a mini business for my wife.

  10. Actually i’m looking for the way out from this unpleasant condition and luckily you set a provision of loan to us,,pls I need this to start a business

  11. Duru rosemary chioma

    My name is chioma am living in Lagos ,just gave birth have been on a luck down since a month now n have finished spending all d money that I will use to transact business due to this disease pls kindly assist to be able to bring my business back to live again

  12. I need the loan in order to boost my capital base.

  13. I need the loan to start off again, as i was displace before the pandemic

  14. Israel NSE umanah

    Please I need this loan to start up a postry farm since I lost my job due to this pandemic, CBN please help.

  15. Ashimolowo adebayo

    I’m in need of the loan to start up my agricultural business I have land that I can use but the capital is my problem please I based in Lagos state

  16. Olabamiji Fatimahoyebola

    Am an exited N-power beneficiary,I used the little savings I was able to save during the program,but due to the situation of this country,the business is collapsing so am in need Machine that can sew bag like Readymade,I was able to learn Bag sewing during the program so I invested on it but still in need of to help to meet up with stardard of the buyers

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