The Central Bank of Nigeria (CBN) has described reports making the rounds in the social media as untrue that owners of small-scale enterprises who apply for loans provided to cushion the effects of COVID-19 are required to pay a certain amount as processing fees.
The Director of Corporate Communications of the apex bank, Mr Isaac Okorafor, in a atatement in Abuja said “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. Prospective applicants are advised 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.
“Any observed irregularities should be reported to the Consumer Protection Department of the CBN via [email protected] or call 07002255226″, the statement added.
