The CBN has introduced a 50 Billion Naira Non-Interest and Collateral-free Targeted Credit Facility to support Households as well as SMEs in Nigeria.

The non-interest facilities to households will assist you in the process of building a business or expanding an existing business, and also maintaining your lifestyle.

𝟏) 𝐍𝐎𝐍-𝐈𝐍𝐓𝐄𝐑𝐄𝐒𝐓 𝐓𝐂𝐅

The CBN has introduced a 50 Billion Naira Non-Interest Targeted Credit Facility to support Households as well as SMEs in Nigeria.

Loan Amount: N500,000 and N750,000

Moratorium: Up to 12 Months

Tenor: Up to 36 Months

𝟐) 𝐍𝐎𝐍-𝐈𝐍𝐓𝐄𝐑𝐄𝐒𝐓 𝐀𝐆𝐒𝐌𝐄𝐈𝐒

The Non-Interest AGSMEIS Traders dealing in foodstuff, electronics, allied products, computers/phones, spare parts, building material, and also transportation, etc.

Loan Amount: Up to N3,000,000

Moratorium: Up to 12 Months

Tenor: Up to 36 Months

𝐍𝐨𝐭𝐞:

1. If you have benefited from the COVID-19 TCF, you are not eligible for the new non-interest TCF. However, you are eligible to apply for the Non-interest AGSMEIS of N3,000,000.

2. If you have already benefited from the regular AGSMEIS programme, you are also not eligible to apply for the new non-interest AGSMEIS. However, you can apply for the non-interest TCF of N500,000 or N750,000.

3. While the application for the non-interest TCF of N500,000 or N750,000 has no special requirements, application for the regular and Non-interest AGSMEIS of N3,000,000 requires applicants to undergo compulsory short business training, certification and business plan from CBN approved Enterprise Development Institutes (EDIs).

4. To apply for N500,000 Non-Interest Targeted Credit Facility Household

5. To apply for N750,000 Non-Interest Targeted Credit Facility SMEs

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