CBN presents a N253.4 million grant: The COVID-19 pandemic has had a significant impact on the global economy, and Nigeria has not been spared. In response to the pandemic, the Central Bank of Nigeria (CBN) has presented a grant of N253.4 million to the Federal Ministry of Health to support efforts to contain the spread of the virus. The grant was presented under the CBN’s Health Sector Research and Development Intervention Scheme (HSRDIS). The HSRDIS is designed to support research and development in the health sector and provide financial support to public and private institutions engaged in health research and…
Author: Akeem Oyerinde
How to Use a HELOC: A home equity line of credit (HELOC) can be a great way to fund home improvements. A HELOC is a revolving line of credit that allows homeowners to borrow against the equity in their homes. Here are some tips and advice for using a HELOC to fund home improvements: Determine your home improvement budget Before applying for a HELOC, it is important to determine your home improvement budget. You should consider the cost of the project, the materials needed, and any labor costs. You should also consider any other expenses that may be associated with…
Understanding HELOC: HELOC stands for Home Equity Line of Credit. It is a type of loan that allows homeowners to borrow money against the equity they have built up in their homes. A HELOC is a revolving line of credit, which means that the borrower can draw on the funds as needed, up to a predetermined credit limit, and only pay interest on the amount borrowed. How does a HELOC work? A HELOC is similar to a credit card in that it has a credit limit and a variable interest rate. The credit limit is determined by the lender based…
Nigerian Youth Investment Fund: The Nigerian Youth Investment Fund (NYIF) is an initiative of the Federal Government of Nigeria aimed at supporting Nigerian youths financially. The fund is designed to provide financial support to young Nigerians who have innovative ideas and are willing to start their businesses. The program is a part of the government’s efforts to reduce unemployment in the country and create more job opportunities for young people. The NYIF has a budget of N75 billion over three years and is expected to create over 500,000 jobs for Nigerian youths. The fund is managed by the Ministry of…
Free Monthly salary of N40000 for graduates: The Nigerian government has launched a program aimed at providing a monthly salary of N40,000 to unemployed graduates. The program is called the Graduate Unemployment Scheme, and it is open to all Nigerian citizens who have completed their National Youth Service Corps (NYSC) program. To apply for the program, you need to follow the steps outlined below: Step 1: Check if you are eligible Before applying for the Graduate Unemployment Scheme, it is essential to ensure that you are eligible for the program. To be eligible, you must have completed your NYSC program…
Accessing the CBN Covid-19 intervention fund: The Covid-19 pandemic has affected businesses worldwide, with small and medium-sized enterprises (SMEs) being hit particularly hard. In response to this, the Central Bank of Nigeria (CBN) established a N50 billion Covid-19 intervention fund to provide financial support to SMEs in Nigeria. If you are an SME owner looking to access this fund, here is a guide to help you navigate the process. Firstly, it is important to understand the eligibility criteria for accessing the fund. According to the CBN, eligible SMEs must have verifiable evidence of business activities adversely affected by the COVID-19…
NMFB Operational Business Loans Application Guide: NMFB Operational Business Loans (OBL) Application Guide The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has released a comprehensive guide on how to apply for the Operational Business Loans (OBL) offered by the Nigeria Microfinance Bank (NMFB) for the 2023/2024 application cycle. The OBL loan facility is designed to provide financial support to eligible small and medium enterprises (SMEs) to enhance their operations and stimulate economic growth in Nigeria. The OBL loan facility is available to SMEs in various sectors, including agriculture, healthcare, education, housing, and other productive ventures. The loan facility…
NMFB CBN Loan Application: The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has announced the availability of a direct link to apply for the Central Bank of Nigeria (CBN) loan via the Nigeria Microfinance Bank (NMFB). This new development is expected to streamline the loan application process, making it more accessible to eligible applicants across the country. The NMFB CBN loan is a financial intervention program aimed at providing affordable credit to individuals, households, and small and medium enterprises (SMEs) to boost their businesses and livelihoods. The loan facility is part of the CBN’s efforts to promote economic…
NMFB Launches OBL Loan Portal: The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has launched the OBL loan portal link for interested applicants to apply for loans of up to 3 million Naira. The loan portal is a collaboration between NIRSAL and the Nigeria Mortgage Refinance Company (NMRC) to facilitate access to finance for eligible applicants who meet the necessary criteria. The OBL loan portal is open to individuals, households, and small and medium enterprises (SMEs) in need of financial support for various purposes, including agriculture, healthcare, education, housing, and other productive ventures. To be eligible for the…
NYSC Loan 2024 from CBN: The National Youth Service Corps (NYSC) is a program designed to engage young graduates in Nigeria in national service. One of the benefits of being an NYSC member is the opportunity to apply for a loan from the Central Bank of Nigeria (CBN). In this article, we will guide you on how to apply for an NYSC loan from CBN, the requirements, and the eligibility criteria. Step 1: Check the eligibility criteria. To be eligible for the NYSC loan, you must be a Nigerian citizen and an NYSC member. You must also have a functional bank…