Before arriving at this decision, the bank had received 80,000 applications but ran into social media storm when it was discovered that it was charging between N5,000 and N10,000 from applicants to access the bank’s business plan.
“To stem further controversy, the management of NMFB has resolved that the business plan is no longer a mandatory requirement and the third party provision of a business plan is no longer compulsory,” he said.Kure also stated that 40,000 of the applcants that had so far applied for the facility were households.
“At the start of the process, business plans, which NIRSAL received from loan applicants were highly substandard and to ensure high standard and efficient processing, an optional, automated business plan was provided by a service provider at a highly discounted fee.
We
But it's still on their website?
Pls must small scale businesses are not registered so in this situation...no chance for them?
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Despite Evidence, CBN Denies Charging Small Businesses N10,000 For COVID-19 Loan Application | Sahara ReportersSaharaReporters can confirm that NIRSAL Microfinance Bank, administrator of the loan for the CBN, is charging N10,000 for what it described as a 'business plan link' compulsory for all applicants if they want their entries reviewed. cenbank Gtb 0160270630
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