Edu said that the CCT was part of efforts by the Tinubu-led administration to alleviate the immediate effect of the removal of subsidy on Premium Motor Spirit (PMS), known as petrol.

She said that the new initiative would empower the poor and most vulnerable members of society, adding that the sum was a source of uplifting the majority of beneficiaries.

During the Independence Day speech, Tinubu announced the CCT programme, where he said that 15 million households would each be given ₦25,000 for three consecutive months to alleviate the poverty level.

READ: CBN Loan – ₦723m Disbursed to Farmers

The minister said that ₦25,000 would be given to each beneficiary to improve their spending power and economic fortunes.

She also said that the ₦50,000 – ₦1.5m Iyaloja loan scheme would soon be started for small-scale traders in the country as part of economic revitalisation and empowerment.

Wale Edun, Minister of Finance and Coordinating Minister of the Economy, vowed that the CCT programme would be transparent following extant global practices. He said the programme had an in-built mechanism to reveal all the beneficiaries upon an enquiry.

READ: Nigerian Youth Investment Fund (NYIF) Begins

The World Bank Country Representative, Shubham Chaudhuri, said the institution was ready to support Nigeria for taking the bold economic measure to divert funds from the shackles of fuel subsidy.

He said the bank was interested in helping its 189 member states eliminate poverty among their different peoples.

>>Submit your Application<<

As you know, the Nigerian Youth Investment Fund has since begun approving the loan application status of some candidates.

Therefore, applicants shortlisted for the program should visit the official NYIF portal https //nyif.nmfb.com.ng/login to check their credit status at the beginning of approval.

Each fund approval will range from N250,000 to N50,000,000

READ – FG CCT ₦25,000 to Nigeria (Monthly) – Access Funds

The National Youth Investment Fund (NYIF) is currently approving the application status of some candidates through its official portal.

However, the program is a government-approved program developed by the federal government in collaboration with NIRSAL Microfinance Bank (NMFB) and the Nigerian Central Bank to empower young Nigerian entrepreneurs. The program started early last year and has benefited thousands of applicants.

All candidates are encouraged to log into the above portal and verify that their loan application status is approved or pending by using email / BVN / phone number and a password.

READ – CBN Loan – ₦723m Disbursed to Farmers

After signing in, click on Loan Application Status on your dashboard, where you will see your loan application status.

This is how you can see the status of your loan application.

Head, the of CBN, Abeokuta Branch Controller, Wahab Oseni, disclosed this on Wednesday at the Ogun State Award for Best Farmer of the Year, 2021.

Oseni said the  disbursement was part of the Agricultural Credit Guarantee Scheme Fund (ACGSF) established by Decree No. 20 of 1977 to guarantee credit facilities extended to farmers by banks.

He said the loan was targeted at increasing access to funds in the agricultural sector, adding that beneficiaries would get back 50 per cent  of the interest if they met with terms of the loan.

READ – FG CCT ₦25,000 to Nigeria (Monthly) – Access Funds

He said, “The purpose of the fund is to provide guarantee in respect to loans granted by lending banks up to the tune of 75 percent  net of amount realised on collateral in case of default for agricultural purposes.

“This is aimed at increasing the level of bank credit to the agricultural sector. The scheme, through the interest drawback programme, also rewards beneficiaries by giving back 50 per cent of interest paid on loan if fully repaid within the stipulated period.

“The role of farmers in enhancing food security and zero hunger is very pivotal in every nation and for this, we say a very big thank you to our farmers.

“In 2021, the Development Finance Office, Central Bank of Nigeria Abeokuta guaranteed 1779 loans valued at Seven Hundred and Twenty-Three Million, One Hundred and One Thousand (N723,111,000.00) from three (3) banks, comprising of two micro finance banks and one deposit money bank.

READ – Nigerian Youth Investment Fund (NYIF) Begins

“I wish to state that the winners of today’s award went through a selection committee using some criteria which included adoption of best agricultural practices, record keeping, utilization and timely repayment of loan among others.”

He announced Saka Dolapo as the  best farmer of the year 2021 in Ogun State while Onasanya Babatunde and Abosede Olowonisoro emerged first and second   runners up respectively.

In her address, the Ogun CBN Development Finance Officer, Dr. Oluwakemi Olukoya, while congratulating the awardees, said food security was everybody’s responsibility.

We gathered that NIRSAL, an agency under the Central Bank of Nigeria, was established to create a link between the agricultural value chain and the financial sector in order to boost productivity, food security, and the profitability of agric business in Nigeria.

Speaking in Lafia on Thursday at the NIRSAL stakeholders 2022 Engagement, the Head, Projects Monitoring, Reporting and Remediation Office, Noel Dilli, said N500 million had been given as loans to farmers in the state to improve their productivity.

READ – FG CCT ₦25,000 to Nigeria (Monthly) – Access Funds

Dilli said the objectives of the meeting were to have a one-on-one with the stakeholders in the field across all the agricultural value chain segments; showcase NIRSAL’s achievements throughout their 5 years in the state; showcase some of NIRSAL service offerings; demonstrate the agency’s commitment to fixing Nigeria’s AVC and its vision for the future.

He urged farmers going through financial challenges to approach the agency for loans, assuring them of the agency’s cooperation at all times.

He said, “NIRSAL Plc in order to realize its the vision of transforming the economy and to deliver inclusive growth which will positively impact on the lives of Nigerians, have been supporting all sizes of businesses, whether small, medium or large across the length and breadth of the country and we hope to do more for the people.

“Since 2017, we have been able to give loans to 4,630 farmers in Nasarawa state. We earmarked N500 million for the project and so many of the farmers benefited from across the 13 Local Government Areas of the state.

“We want other farmers who are facing financial difficulties to approach us for loans. Our efforts are to ensure food sufficiency and boost the Nigerian economy.

READ – CBN Loan – ₦723m Disbursed to Farmers

“NIRSAL Plc does not give loans to individuals but we give to cooperatives. So, farmers who are interested would have to form a cooperative before approaching us for loans.”

The Assistant Manager of the Agricultural Value Chain, Production and Integration Services, Onerno Obaseki, however, lamented about the attitude of some farmers who received the loans but did not repay them on the due dates.

She said such an attitude could hinder the agency from giving loans to other farmers in the state who genuinely needed the funds to improve their farming activities.

Renmoney is a financial institution that offer loan up to ₦6 million with low interest. They are reputable for giving loans without collateral or guarantors with flexible repayment options. This has endeared the brand to Small and Medium-Sized Enterprises (SMEs) and startup entrepreneurs in the country. Individuals with need for personal loans have been able to count on Renmoney.

The firm began it operation in late 2012 and according to our source, they have gated 200,000 loans  to individuals, brand to Small and Medium-Sized Enterprises (SMEs).

READ – CBN Loan – ₦723m Disbursed to Farmers

Renmoney Loan Requirement

The below requirement are flexible depending on the amount of loan you request. however, the below are the basic Renmoney Loan Requirement .

• An active bank account in any commercial bank in the country
• at least 22 and 59 years of age
• Your monthly income will be verified
• Your Credit Bureau Report should be clean
• Your statement of bank account is required up to six months and have zero bounce cheque
• Recent passport photograph
• Person ID card of the Organization you work with
• Your Tax or Pension identification number is required
• A Government Issued ID Card (eg:- International Passport, National Identity Management Commission ID Card, Drivers license etc)
• A letter from the Human Resource of your company
• Your recent utility bills is required

How to Get Renmoney Loan

Getting loan from renmoney is easy and you can get it in less than 24hr. as you read on, i will walk you through a step by step process

• Visit Renmoney website and apply for loan there.
• Fill in the application form
• Upload all required documents
• Once this is done, wait for at least 24hr and you should get an email from renmoney
• You can also visit any of their branch.

READ – N482BN To MSMEs, Disburses by Development Bank

How long does it take to get a loan from Renmoney

Renmoney is fast and you can get ₦50,000 to ₦4 million within 24 hours from RenMoney.

What is Renmoney interest rate

The interest rate is flexible depends on the amount of loan you want to get and also how long it will take you to pay back. However, the standard renmoney interest rate is up to 2.9%

The Development Bank of Nigeria (DBN), Nigeria’s primary wholesale development finance Institution, says it has disbursed about N482Billion to Micro- Small- and Medium-Scale Enterprises in Nigeria since its inception.

It said 65% of the sum was given to women- and youth-owned businesses.

READ – FG CCT ₦25,000 to Nigeria (Monthly) – Access Funds

Presenting the summary of the finances, 2021, the DBN Managing Director, Tony Okpanachi told stakeholders that the fundamentals of the Bank’s finances are robust.

Mr Okpanachi attributed the Bank’s financial performance to “its robust corporate governance framework, business model as well as its top-notch enterprise risk management, coupled with highly committed Board, Management and Staff”.

According to him, the Bank has continued to focus on its mandate of providing access to finance through Participating Financial Institutions to Nigeria’s most critical, but underserved Micro- Small- and Medium-Scale Enterprises and provision of partial credit guarantees to encourage lending to MSMEs.

READ – ₦50,000 to ₦300,000 FG Tradermoni Loan Begins

“Our cumulative disbursement of N482Billion, especially to women-owned or managed businesses, is something that we are particularly delighted about from the perspective of women empowerment and poverty alleviation,” the MD stressed.

He expressed gratitude to the Bank’s shareholders, development partners, PFIs, Board of Directors and employees for their continued support, promising to remain focused on the Bank’s mandate and to sustain efforts toward achieving sustainable financing and capacity building for the MSMEs.

The Minister of Humanitarian Affairs, Disaster Management and Social Development Sadiya Farouq who rolled out the National phase of the programme presented cheques to peasant farmers and petty business women

Farouq said that the interest-free loans to beneficiaries were in line with President Muhammadu Buhari’s commitment to poverty reduction.

According to the Minister, the beneficiaries are verifiable while the selection process was transparently conducted.

“The Government Enterprise and Empowerment Programme (GEEP) is a programme designed by President Muhammadu Buhari’s administration to create further opportunities for the poor, vulnerable and low-income Nigerians, especially those who are involved in viable informal productive activities with limited financial requirements but have never had access to loans from the formal financial sector. 

“It is meant to give priority to the most vulnerable in our society like widows, youth, Persons With Disabilities and the Internally Displaced Persons amongst others.”

Thirteen thousand out of the fifty-nine thousand, one hundred and sixty-one potential beneficiaries across the 34 Local Government Areas (LGA) in the State were verified and paid for the first phase of the interest-free loan.

A new window will open for the remaining potential beneficiaries to commence registration for the year 2022 of which more vulnerable individuals and groups are expected to openly register at the National Orientation Agency offices by GEEP trained Desk Officers across the 774 LGAs nationwide.

“These selected beneficiaries are now all banked, they have been given ATM cards and are currently being enumerated all of which are our deliberate efforts to enhance financial inclusivity of our poor in a sustainable manner,”  the Minister explained

She disclosed that the GEEP 2.0 has three unique products; “The Tradermoni loan of N50,000 is targeted at uplifting the under-privileged and marginalized youths between the ages of 18 – 40 yrs, the MarketMoni loan of N50,000 is for the underprivileged and marginalized women like Widows, divorcees, and other vulnerable groups, while the FarmerMoni loan of between N50,000 to N300,000 is designed for small scale farmers in the communities to improve their agricultural productivity and inclusion into commercial farming.”

The National Roll-Out heralds a launch and disbursement of loans simultaneously in all States of the Federation.

Things you need to note

First, you should take note of the following:

• There is every need for you to check your status to ascertain if you are still on the right path to receiving your covid-19-support loan.
• Before you can access the portal, you should have a profile with the platform. This means that you must have previously applied when the online registration was going on. You can only log in if you have created your profile.

Secondly, the Nirsal Microfinance Loan will only be disbursed to those who are considered qualified applicants. Below are the steps and links that applicants need to follow to check their loan status:

From previous guidelines, the first step to take is to carefully go through your email address. Those who got their loan requests granted will receive emails indicating that they have been granted access to the loan. If by now, after the online application, there is still no mail to show that your loan has been approved, then it’s best to click here or visit https://agsmeisapp.nmfb.com.ng/

• In case you can’t remember the category of loan you had applied for, the two major loan categories available are SME or Individual/Households.
• Next, you need to verify your account by submitting your BVN. If you are lucky to have been approved for the loan, then a window will pop open showing you the amount approved for you.
• The next thing for you to do is to claim your loan. Provide your bank details and information in the correct format. There is a space for that on the portal.
• The final step is to locate the terms and conditions required for the loan, then read and understand every aspect of it.
• You will also learn of the director in charge of your payment and his/her details, and the procedure for repaying the loan.

How to repay the loan

Contrary to the expectations of some applicants that the loan is non-repayable, the federal government has warned that the loan must be repaid by successful applicants.

Please note that 5% of the total funds received will be deducted before payment is made to you. The most important thing here is to make sure you don’t default in repayment.

The loan is to be repaid in 3 years. Since your BVN has been linked to all your accounts, if you fail to repay, the amount will be deducted monthly from your account.

Recently Nigerian Youth Investment Fund (NYIF) announced its Application for youth who need a loan. The NYIF Initiative is powered by the Federal Youth and Sports Development Ministry. The Central Bank of Nigeria fully funds it. for candidates who are willing to apply, here is how you can apply for the ongoing NYIF Application portal Registration

We understand that numerous individuals are having difficulties, do not panic, as we have a lot of testimonies of individuals who used our Guide and ended up securing it.

Nigeria Youth Investment Fund NYIF Application Form Requirements

• Your Bank Verification Number is required
• All Applicant should be At least 18years of age and above
• Accurate Personal Information is required.
• Your Bank Account Number ( This must be any Nigerian Financial Institution)
• A valid means of identification such as ID (A Government Issued)

How to Apply for NYIF Application Form

To apply for the ongoing Nigerian Youth Investment Fund (NYIF) application, ensure you have read all the presented requirements. and be sure you fit in.

• Next, click here to visit the NYIF Application Portal
• Put in Your First Name, Middle Name, Surname and BVN
• Next, click on submit.
• Next, apply for any of the job openings.

Finally, Do you have any questions? feel free to let us know

Portal:- nyif.nmfmb.com.ng/

Unveiling the programme in the two local government areas of the state at the weekend, the Bauchi State governor, Senator Bala Mohammed said the economic empowerment was all about making the people of Bauchi State self-reliant by providing them the wherewithal and conducive environment to be economically productive.

He said the programme was designed to boost economic activities in order to address problem of unemployment and alleviative poverty among the people, especially the youths and women.

According to the governor, his administration places high premium on empowerment through job creation as a testimony of its commitment towards poverty alleviation, pointing out that his government had put in place the Bauchi State Microfinance Institution Building Programme (MIFIN) to complement the Kaura Economic Empowerment Programme.

“The aim of this programme is to develop and strengthen microfinance institutions and establish linkages among the institutions and other financial institutions in order to create a viable and sustainable microfinance system.

“The ultimate goal is to enhance access of the poor to financial services so as to boost the productivity of micro and small scale enterprises, thereby reducing poverty.

“Since the commencement of the formal launching of the Kaura Economic empowerment Programme in the Local Government Areas, an average of N75 million in both cash and kind has been distributed to some selected beneficiaries in each of the local governments where the programme has so far been launched.

” Selected beneficiaries of the programme in Ningi and Warji Local Government Areas would therefore today be given the following items which include provision of starter packs and N50,000 cash for 500 persons per local government; provision of three motor cycles in each of the wards of the 20 local governments; provision of N100,000.00 cash to women leaders and youth leaders in each of the 20 local governments and the provision of five buses to each of the 20 local governments.

“The beneficiaries are Ward PDP Chairmen, Ward Coordinators and Ward Youth leaders,” he said.

Mohammed appealed to the beneficiaries of the Kaura Economic Empowerment Programme to make good use of the opportunity by properly managing the cash and items given to them to boost their economic status and assist others who may not have access to the largesse, adding that his government will continue to explore more ways and means of poverty alleviation.

AbdulRazaq said this on Friday while presenting the cheque to the beneficiaries to commemorate this year’s International Youth Day (IYD) in Ilorin.

He said youth inclusion and productive engagement were key to a sustainable future.

”The N1 million grant is funded through Kwapreneur 2.0, a programme specifically designed to support businesses owned by young people and funded through the Kwara State Social Investment Programme (KWASSIP).

”Last year, the scheme gave at least 170 young people an interest-free loan ranging from N250,000 to N3 million.

”The country must seize every opportunity to engage its growing young population.

“This is an opportunity for growth and prosperity, but it could also be a threat to stability, peace and security on the continent, if not managed.

”This is why we must not lose the conversation around inclusion, growth, quality engagement and empowerment of young people.

”For this reason, I align myself with the theme of this gathering, which is Intergenerational Solidarity: Creating A World for All Ages,” he said.

KWASSIP’s chief AbdulQuawiy Olododo said the beneficiaries were drawn from a pool of those who had applied for Kwapreneur 1.0 and nominations from artisan groups, community organisations and youth groups, among others.

In her remarks, Mrs Kaosara Adeyi, the Special Assistant on Youths Engagement, appreciated Gov. AbdulRazaq, for giving out the grants to the youths to boost their businesses.

She applauded AbdulRazaq for considering the youths, saying that youths are the leaders of tomorrow.

Adeyi urged the public to support each other to achieve the Nigeria of our dream.

The National APC Youth Leader, Mr Dayo Israel, said happenings in Kwara in terms of good governance and sincerity of purpose is a beacon of hope that things would turn out better in the country, irrespective of the current challenges.

Debating the theme of the event, panelists took turns to commend the government for supporting businesses owned by young people.

One of the panelists, Afolabi Oshatimehin, noted that the programme would make the youths realise themselves and their potentials.

Oshatimehin, who is also the Commissioner for Solid Minerals, commended the governor for giving the youths the power of self worth.

Another panelist, who is a Community Development Practitioner, Mr Lawal Olohungbebe, said the present administration has built a conducive environment for investors to thrive.

On his part, the Chairman, Kwara North Development Council, Mr Jerry Kolo, explained that AbdulRasaq has created network for youths in Kwara to be independent.

Kolo said that the construction of roads in Kwara North has created job opportunities for many youths.

The Chairman, National Youth Council of Nigeria, Kwara branch, Mr Ali Nasim-Yusuf, said the council is ready to support the second term bid of AbdulRazaq for his achievements in the state.

Responding on behalf of the beneficiaries, Ms Afusat Adewale, also appreciated the governor for giving them opportunities to be independent.
She promised that all of them will use the money judiciously. (NAN)

The loan is earmarked for the beneficiaries to embark on four agricultural schemes, namely; Graduate Agricultural Enhancement, Community Based Agricultural Empowerment, Sustainable Agricultural Development and Agricultural Enhancement under the Rural Employment Promotion Department of the NDE in Kogi state.

Aside from loan disbursement, a total of 100 unemployed youths were trained in sustainable agricultural development.

Flagging off the programme at the weekend in Lokoja, the Director General of NDE, Mallam Abubakar Nuhu Fikpo who was represented by the state coordinator, Mallam Abubakar Zakari described agriculture as the only sector that has the potential to create mass employment for the unemployed youths in Nigeria.

The Director General reiterated the desire of the Buhari’s led administration to tackle unemployment headlong by embarking on Programmes that will create more job opportunities for the Youths.

In his welcome address during the flag-off ceremony, the Head of Rural Employment Promotion, Mallam Shuaibu Omeiza said that the training was designed to equip beneficiaries with the needed training in crop production, livestock farming, food processing and packaging.

The facilitator of the programme from NDE headquarters, Abuja, Mrs Ann Ita charged the trainees to avail themselves of the opportunity as it is capable of transforming their lives positively.

Responding on behalf of the participants, Mallam Alhassan Dangana, praised the NDE and the federal government for giving them the opportunity for the training with a promise to make good use of the rare privilege.